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HomePath® offers you a variety of
calculators to help you figure out how much house you can
afford. That's because there are a number of ways to
approach an affordability analysis. All these calculators
allow you to explore the effects of various changes to
your home-buying situation. You can perform a variety of
"what-if analyses" to see how various changes to your
income, liabilities, and available funds affect your
buying power. You can invent a number of
"what-if scenarios," helping you see
how changes to your mortgage term,
mortgage loan amount, available funds and interest rate
all directly affect your ability to afford a home.
The How Much is Your Monthly Payment?
calculator lets you explore the outcome of changes to
your loan balance, mortgage term, and interest rate on
your monthly payment.
The How Much House Can You Afford?
calculator allows you to see approximately how much money a
lending institution will lend you, based on your income
and your debts.
The What Monthly Payment is Needed for a House
with a Specific Sales Price?
calculator lets you get started on exploring how changes to the desired sales
price of your home will affect your payments.
The How Much House Can You Afford with a
Specific Monthly Payment?
calculator lets you begin to understand how your desired monthly
payment will affect the price of the house you can afford.
And, the Is Now a Good Time to Refinance?
calculator is available if your primary interest is in refinancing your
current mortgage loan.
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Disclaimer: Fannie Mae does not prequalify borrowers, but we do provide tools such
as these calculators that may help you on the path to homeownership.
Remember, a lender decides on your mortgage application and loan
amount and lender calculations may vary from HomePath calculations.
HomePath calculations are solely intended to provide ballpark
estimates, not final or binding loan amounts.
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