The purchase price of the home you want to buy.
Your upfront cash toward the purchase. Aim for at least 3–20% of the home price.
30-year is the most common. Choose 15-year if you want to pay off faster and save on interest.
Even a 0.5% difference in rate can change your payment by $100+/month. Good credit scores get better rates.
Your monthly gross income before taxes. Lenders use this to make sure your payment isn't too high relative to what you earn.
Car payments, student loans, credit card minimums. The less debt you carry, the more home you can afford.
California property tax averages ~1.1–1.4%/year of the purchase price. Paid monthly as part of your mortgage (usually).
Required by lenders. Covers fire, theft, and disasters. You choose your own insurance provider.
Condos and townhouses typically have HOA fees. Single-family homes may or may not. Set to $0 if not applicable.
Click the card that best describes you. The calculator will update to reflect that loan's rules.
This is the #1 number lenders look at. It tells them if you can afford the payment based on what you earn. Under 43% = green zone.
Besides the down payment, there are one-time fees to close the deal. This is the total cash you need ready on closing day.
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These numbers are estimates. Hewad will walk you through your actual pre-approval — for free, with no obligation.
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