Affordability
DC home affordability calculator
See the price range your income supports, with the property tax, insurance and dues you expect to pay.
Car loans, student loans, credit card minimums, child support.
An example. Enter the rate you were quoted, or see today's rates.
Home costs to plan for
Prefilled with DC's residential rate. DC owners who live in the home can apply for a homestead deduction that lowers the bill.
A condo policy covers only the inside of the unit, so it usually costs less.
Lenders count dues in full, like the mortgage payment.
Your price range
$461,000 – $773,000
Where you land in that range depends on your credit, reserves, the property, and how your income is documented. These are estimates from the numbers above, not an approval.
Monthly payment at $461,000
$3,496/mo
Mortgage insurance ends automatically in about year 10, when the balance reaches 78% of the price. The payment then drops to $3,254/mo.
30-year fixed · 7.000% example rate · 7.524% APR (estimate)
- Principal & interest
- $2,760
- Property tax
- $327
- Homeowner's insurance
- $167
- Mortgage insurance (estimate)
- $242
- Condo / HOA dues
- $0
Mortgage insurance is estimated at 0.7% of the loan a year. It can be higher with lower credit or a smaller down payment.
Loan amount
$414,900
Down payment
$46,100
Figures assume a conventional loan. FHA loans qualify on wider ratios and carry their own mortgage insurance, so your numbers change. Ask us to run them.
About these estimates
This is an educational tool, not an offer of credit, a pre-qualification, or a loan approval. Figures are estimates based on the inputs above.
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 the property tax rate, homeowner's insurance and condo or HOA dues you enter. With less than 20% down, payments also include estimated mortgage insurance at 0.7% of the loan a year until the balance reaches 78% of the price, when it ends and the payment drops. Your premium depends on your credit and down payment.
Rate and APR. The interest rate starts at an example, not a quoted or currently available rate; change it to the rate you were quoted. The annual percentage rate (APR) shown is an estimate for that rate with no discount points. It is higher than the interest rate because it includes a $1,250 underwriting fee and, with less than 20% down, estimated mortgage insurance. 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. The low end of the range keeps your housing costs at 28% of income and all debts at 36%. The high end allows all debts up to 50%, which automated underwriting approves only on strong files. 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