Free Tool
Monthly Affordability Calculator
Enter your income, monthly debts, and down payment to see exactly what price range you can comfortably afford — a must-have first step for any DMV homebuyer.
Launch the Monthly Affordability Tool
Use the live PalmAgent calculator to estimate your home buying budget based on income, debts, down payment, taxes, and insurance.
Open Monthly Affordability Calculator →How to Use This Affordability Calculator
This calculator helps buyers in Washington DC, Maryland, and Virginia estimate a comfortable monthly payment and price range before shopping for homes. Start with your gross monthly income, add your expected down payment, and include recurring debt payments to see a practical affordability range.
For the most accurate results, use realistic assumptions for HOA dues, property taxes, homeowners insurance, and current mortgage rates. If you are comparing multiple loan options, run the numbers more than once so you can see how small changes in interest rate and down payment affect your purchasing power.
Frequently Asked Questions
Does this include taxes and insurance?
Yes — you can input taxes and insurance to get a more realistic monthly payment estimate.
Is this a mortgage pre-approval?
No. This is a planning tool. Final approval depends on lender underwriting and documentation.
Should I use gross or net income?
Use gross monthly income first, then stress-test your budget to ensure the payment still feels comfortable.