Affordability
How much home can I afford?
Built for DC — the District's property tax rate and homestead deduction, condo dues in the ratio, and limits that change with the loan program.
Car loans, student loans, credit card minimums, child support.
Counted in full against your ratios — worth entering for any DC condo.
Paid at closing to get the rate above. Set to 0 to model a no-points rate.
Homes to look at in the range of
$499,000 – $814,000
Where you land in that range comes down to credit, reserves, the property itself and how your income documents — not to one ratio. These are estimates from the numbers above, not an approval.
Monthly payment at $499,000
$3,498/mo
30-year fixed · 6.375% rate · 7.005% APR
- Principal & interest
- $2,802
- DC property tax (with homestead)
- $288
- Homeowner's insurance
- $146
- Mortgage insurance
- $262
- Condo / HOA dues
- $0
Loan amount
$449,100
Down payment
$49,900
Figures assume a conventional loan. VA and FHA qualify differently — VA on residual income with no monthly mortgage insurance, FHA on wider ratios — so your numbers change materially. Ask us to run them.
About these estimates
This is an educational tool, not an offer of credit, a pre-qualification, or a commitment to lend. Figures are estimates based on the inputs above and do not constitute an advertisement of specific credit terms.
Terms of repayment. Examples assume a fixed-rate loan over the term you select — 360 monthly payments on a 30-year loan, 240 on a 20-year, 180 on a 15-year — of principal and interest, plus estimated escrows for DC property tax and homeowner's insurance, mortgage insurance where applicable, and any condo or HOA dues you enter. Property tax uses the District's residential rate with the homestead deduction for owner-occupants; your assessment, insurance and dues will differ.
Rate and APR. The interest rate is one you set. Any preset reflects recent pricing for a well-qualified conventional scenario and is not a quoted rate. The annual percentage rate (APR) will be higher than the interest rate because it includes points and lender charges; your APR is disclosed on the Loan Estimate for your actual loan. Rates change daily and are not locked until you have a locked rate agreement.
Qualifying. Debt-to-income limits shown reflect what automated underwriting commonly approves by program, not a guaranteed maximum. Actual qualification depends on the complete file — credit, assets, reserves, property type and program guidelines. Not all applicants will qualify.
District Mortgage · NMLS #2819502 · Equal Housing Opportunity