How Much House Can I Afford?

How much house you can afford depends on a few things: your income, your monthly debts, your credit, your down payment and the estimated payment on the home. You don’t need to work it all out yourself. That’s our job. We’ll review your situation, compare options from our 130+ lending partners and give you a comfortable price range before you start shopping.

What determines how much house you can afford?

We look at the full picture, including:

• Your income
• Your monthly debts, like car, student loan and credit card payments
• Your credit
• Your down payment and savings
• Property taxes, homeowners insurance and HOA dues on the home

Then we find the mortgage options that fit. Because Avalon works with 130+ lenders, we’re not limited to one bank’s programs or guidelines. More lenders means more options.

Do I need a big down payment?

Not always. Many buyers are surprised to learn there are mortgage options that need far less down than they expected. Depending on your situation, conventional, FHA, VA or USDA financing may be a fit.

Not sure which one is right for you? You don’t have to figure that out. We’ll do it for you. If your credit isn’t perfect, see whether an FHA loan with a 580 credit score could work.

Is an online calculator enough?

A calculator is a good starting point, and we have one. But it can’t see your whole situation, like how your income is counted, which loan program fits best, or which lender is most competitive for you. A calculator tells you what a payment might look like. Your Avalon loan officer can tell you what we can actually do.

What if I’m not ready to apply yet?

That’s completely fine. We’d rather talk before you start house hunting, so you know your price range and what to expect. Chat with us on the website, text us, call us, or apply whenever you’re ready. No call center and no 800 number. You’ll have direct access to your Avalon loan officer.

Frequently asked questions

How much house can I afford on my salary?

Salary is only one piece. Your debts, down payment, credit and the loan program all change the answer. The quickest way to a real number is to let us run your scenario.

Does my car payment affect how much I can afford?

It can. Lenders look at your monthly debts alongside your income, so a car payment can lower the amount you qualify for.

Should I get preapproved before I look at homes?

Yes. A preapproval tells you your real price range and shows sellers you’re ready, which helps when you make an offer. Don’t forget to plan for closing costs in Georgia, too.