Click below or scroll down to learn more about financing your home.
Location
Home affordability varies by state and county. We focus your search to a Lennar community to estimate interest rates, tax rates, and cost of home insurance.
Monthly Debt
Include debt like car loans, student loans, minimum payments on credit cards, etc. and recurring payments like insurance, utilities, alimony, child support, etc.
Down Payment
If your down payment is less than 20% of your home’s purchase price, you may have to pay Private Mortgage Insurance (PMI).
If you or your spouse served in the military, you may qualify for a $0 down VA loan.
You could afford a home worth
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Conservative
Moderate
Aggressive
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Quite affordable
You might end up saving less.
You will be stretching your budget.
Monthly budget breakdown
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Lennar provides this calculator as a courtesy to you in order to estimate your financial needs. These estimates are based on information you provided, and we make no warranty of the accuracy of this calculator, and its applicability to your circumstances are not guaranteed. We encourage you to consult with your own financial advisor regarding questions specific to your financial situation.
For accurate numbers, apply for Pre-Approval with Eagle Home Mortgage.
We could not calculate an affordable home price for you. Try increasing the income amount and/or reducing the debt amount.
Homes within your budget and location
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Financing FAQs
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What is the difference between pre-approval and pre-qualification for a loan?
Pre-qualification is a non-binding process in which you provide preliminary information concerning your income, monthly dues, and assets, so the lender can estimate how much you may qualify to borrow; your pre-qualified sum is not a guaranteed figure. Pre-approval is a more in-depth examination of your finances and current credit rating to determine if you really qualify for the loan and/or maximum amount the lender is willing to loan you. You must provide the lender with documentation that verifies your residential history, employment, income, assets, and personal debt. The lender will also ask to pull your credit report to check your creditworthiness. Your pre-approval letter is the lender’s written commitment to give you the loan, and when you make an offer on a new home, you submit your pre-approval letter as well.
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I just started looking at homes. Is it too early to get pre-approved or pre-qualified for a loan?
The best time to get pre-qualified or pre-approved for a loan is before you start looking at homes. This will give you time to correct credit problems, eliminate debt, and budget. Also, you will eliminate disappointment, as you learn how much home you can really afford, and thus refine your new home search. Then, if you are a contender for a home with multiple offers, a pre-approval letter gives you more weight with the seller because you guarantee them you will be able to pay the sale price.
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When I am ready to buy a home, am I obligated to work with the lender who pre-approved or pre-qualified my loan?
You are not obligated to complete the mortgage process with the lender who issued you a pre-qualification or pre-approval letter. Actually, it is better to get multiple quotes from different lenders so you can find a loaning option that best fits your finance needs. However, each time a lender pulls your credit report for pre-approval, this creates a hard inquiry, which hurts your credit score. Credit bureaus will extend some leniency if you are shopping for a mortgage; if multiple inquiries are pulled in a focused period of 14 to 45 days, the bureaus will view it as a single credit pull.