Know the numbers before the tour
Use the affordability calculator with your gross income and debts, then the payment calculator with a real tax and insurance guess. If take-home pay cannot support the full draft, the house is too expensive for the budget even if a ratio looks fine.
Decide the down payment with the comparison table, including closing costs. A first purchase often has moving and repair costs the mortgage calculators do not include.
Then talk to lenders, not the other way around
A pre-approval is a lender's conditional look at your file. A pre-qualification is a lighter conversation. The difference is in the next guide.
When estimates arrive, compare scenarios with the rates and fees you were given. Do not use an example 6.75% as if a lender offered it.
| Step | Tool |
|---|---|
| Budget | Affordability and payment |
| Cash to close | Down payment and closing costs |
| Offers | Compare scenarios |
Calculators
Related guides
Sources
Common questions
Do I have to be a first-time buyer to use these tools?
No. The math is the same. Some assistance programs care about prior ownership. The calculators do not.
Will you connect me to a lender?
No. The site does not sell the numbers you type.