Tools
Affordability Calculator
How much home can you comfortably afford in Northern Virginia? Enter your income, debts and savings to see a realistic price range and the monthly payment that comes with it.
FAQ
Affordability questions
How do lenders decide how much I can borrow?
Most look at your debt-to-income ratio: your new housing payment plus other monthly debts, divided by your gross monthly income. Many conventional loans top out around 43% to 45%, and some FHA loans allow up to about 50%. Credit, savings and job history matter too.
Should I borrow the most a lender will approve?
Not always. A lender’s maximum doesn’t count childcare, commuting, savings goals or the upkeep a home needs. Many buyers feel more comfortable keeping total debt closer to 36% of income.
What if my savings are the limit?
Look at loans with smaller down payments, Virginia Housing and local down payment assistance, or a seller credit toward closing costs. The Down Payment Assistance Checker is a good place to start.
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