The Mortgage Sensei

The Mortgage Sensei
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The Mortgage Sensei
Virginia mortgage tools

Virginia Home Affordability Calculator

Enter your income, debts and down payment to see a comfortable, a standard and a maximum price range for a Virginia home.

Income and debt

$

Before taxes. Use the income on your W-2 or 1099.

$

Car loans, minimum card payments, student loans. Leave out rent.

Loan setup

$
%

A sample rate for illustration. Use a rate you have been quoted.

Loan term

Virginia costs

Edit to match your locality
%
$
$
%

PMI is added only when your down payment is under 20% of the price. Virginia localities set their own tax rates, so check the rate where you plan to buy.

Your buying power

Comfortable

36% DTI. Room to save and live.
$0
$0/mo

Standard

43% DTI. Where many buyers land.
$0
$0/mo

Maximum

50% DTI. Upper limit, tighter budget.
$0
$0/mo

Programs can stretch these ranges. VA loans can be $0 down for eligible borrowers, down payment assistance may help with cash, and bank statement loans can fit some self-employed buyers.

See what you could qualify for

Estimate only. Qualifying depends on credit, work history, debts, loan program and lender guidelines. DTI tiers are general guidelines, and some programs allow more with compensating factors.

How it works

The calculator finds the largest monthly housing payment you could carry at three debt-to-income levels, then works backward to a home price after taxes, insurance, PMI and HOA.

  • Comfortable, 36%. A conservative range that leaves room for savings and surprises.
  • Standard, 43%. A common ceiling for many loan programs and a realistic range for many buyers.
  • Maximum, 50%. Possible with strong credit, reserves or a program that allows it. Expect a tighter monthly budget.
  • Front-end vs back-end. Front-end DTI is housing cost over income. Back-end adds your other monthly debts. The tiers here use back-end.
  • Not included. Closing costs, which usually run a few percent of the price. See the closing cost estimator.

Affordability FAQ

My number is lower than I expected.

Pay down monthly debts, add to the down payment, or compare programs. A lower rate or a different loan type can change the range. A conversation about your full picture is the fastest way to see options.

Why three tiers?

Lenders and programs set different limits, and comfort differs by household. Seeing all three shows a range instead of a single verdict.

Does my credit score matter?

Yes. It affects your rate and program choices. This tool uses whatever rate you enter.

What if I am self-employed?

Lenders usually look at tax returns. Some programs qualify buyers using bank deposits instead. Enter your documented income here for a baseline.

Are closing costs included?

No. The result is a home price, not cash to close. Budget for closing costs in addition to the down payment.

I have a lot of existing debt. What now?

Debts reduce the payment you can carry. Paying off a car loan or card balance before applying can raise your range. Ask which payoffs help the most.

Duane Buziak, NMLS #1110647. Licensed in VA, TN and GA. Brokered through Coast2Coast Mortgage, NMLS #376205. For illustration only. Not a loan offer, commitment or rate quote. Equal Housing Opportunity.