Affordability
Reasons To Use Our Affordability Tool.
- To check to see what home price range you can afford.
- To get a better understanding of what goes into the loan process
Term Key can be found at the bottom of this page*
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Term Key*
Annual Income: Yearly income after tax.
Estimated Annual Property Taxes: Home times estimated tax rate
Down Payment: Initial up front payment due upon closing
Monthly Debts: Revolving debt payments not including things like utility and phone bills
Estimated Annual Home Insurance: Average in California is $1,166 according to insurance.com
Interest Rate: percentage of principal charged by the lender (an estimate can be found on our Rates page under mortgage)
Loan Term: Number of years
Monthly Payment: Estimated payment
Principal & Interest: Total Cost of the loan
Tax: Property Tax
Insurance: Mortgage Insurrance