How Much Home Can I Afford?

When buying a home, Capitol Federal® doesn't just look at your income, assets, and the down payment you have. We also take a look at all of your liabilities and obligations, including auto loans, credit card payments, child support, potential property taxes, student loans and insurance, and your overall credit rating. Use our free home affordability mortgage calculator to determine how much of a mortgage you may be able to obtain.

Please fill out as much information as you can gather within each category. The more information you can provide, the more accurate an estimate the calculator can generate for you. You do not have to fill in all of the fields to get a result.

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New Loan Assumptions

Annual interest rate on new mortgage (0% to 40%)

The interest rate for this home mortgage loan.

Term of new mortgage (years)

The number of years you wish to finance this home mortgage loan (15, 20, 30).

Funds available for a down payment ($)

The amount of liquid assets (money in savings or checking) you have available to use as a down payment.

Estimated annual property taxes ($)

As an example, suppose the assessor determines your property value is $300,000 and the assessment rate is 1.4%. You would multiply the property value by the percentage, giving you an estimate of $4,200. For more info, contact us.

Estimated annual homeowner's insurance ($)

As an example, the annual cost for a homeowners insurance policy can be estimated by multiplying the property value by 0.7%. For a $300,000 home, the estimated annual homeowner's insurance premium would be $2,100. For more info, contact us.

Front-end ratio

When calculating a front-end ratio, anticipated housing expenses are totaled and then divided by the borrower's gross monthly income, then multiplied by 100. Pick the percentage that is closest to your estimate (28%, 33%, 36%).

Back-end ratio

The back-end ratio is calculated by adding together all of a borrower's monthly debt payments and dividing the sum by the borrower's gross monthly income, then multiplying by 100. Pick the percentage that is closest to your estimate (36%, 40%, 45%).

Income and Debt Obligations

Current combined annual income ($)

The gross annual verified income of you and your spouse (if applicable).

Monthly child support payments ($)

The monthly amount paid for child support.

Monthly auto payments ($)

The total monthly amount paid for automobile loans.

Monthly credit card payments ($)

The total monthly amount paid toward credit cards.

Monthly association fees ($)

Any monthly homeowner association fees.

Other monthly obligations
(not including current mortgage payment) ($)

Anything else significant that you are obligated to pay on a monthly basis.

Results

Please complete the calculator form for results.

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. It is not meant to provide you financial, legal or tax advice, and such information should not be relied upon as your only source of information.
Each lender may have different qualifying ratio requirements. Please ask your loan consultant for more information.