Affordability Calculator

Use this calculator to determine how much house you can afford. By entering details about your income, down payment, and monthly debts, you can estimate the mortgage amount that works with your budget.

You can afford a home up to: $0

Your debt-to-income ratio is 36%
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Annual Income

This is the combined annual income for you and your co-borrower. Include all income before taxes, including base salary, commissions, bonuses, overtime, tips, rental income, investment income, alimony, child support, etc.

Down Payment

The typical rule of thumb is to pay 20 percent of the home's price as your down payment, although some mortgage loans require as little as 3.5 percent down. Your down payment reduces the total amount of your mortgage loan, so the more money you put down, the lower your payments will be - or the more expensive a house you can buy.

Other Monthly Debts

Include all monthly debt payments for of you and your co-borrower, including: minimum monthly required credit card payments, car payments, student loan payments, alimony/child support payments, any house payments (rent or mortgage) other than the new mortgage you are seeking, rental property maintenance, and other personal loans with periodic payments.

Do NOT include: credit card balances you pay off in full each month, existing house payments (rent or mortgage) that will become obsolete as a result of the new mortgage you're seeking, or the new mortgage you're seeking.

Loan Term

Your loan program can affect your interest rate and monthly payments. Choose from 30-year fixed, 15-year fixed, and more in the calculator.

Loan Type

There are several types of mortgage loans, but the most commonly used are fixed-rate and adjustable-rate loans. Fixed-rate loans have the same interest rate for the entire duration of the loan. That means your monthly payment will be the same, even for long-term loans, such as 30-year fixed-rate mortgages. Two benefits to this loan type are stability, and being able to calculate your total interest up front. Adjustable-rate mortgages (ARMs) have interest rates that can change over time. Typically they start out at a lower interest rate than a fixed-rate loan, and hold that rate for a set number of years, before changing interest rates from year to year. For example, if you have a 5/1 ARM, you will have the same interest rate for the first 5 years, and then your interest rate will change from year to year. The main benefit of an adjustable-rate loan is starting off with a lower interest rate.

Interest Rate

This field is pre-filled with the current average mortgage rate. Your actual rate will vary based on factors like credit score and down payment.

Property Tax

The mortgage payment calculator includes estimated property taxes based on the home's value. You can edit this in the advanced options.

Home Insurance

Home insurance or homeowners insurance is typically required by lenders, depending on the loan program. You can edit this number in the mortgage calculator advanced options.

HOA Fees

A homeowners association fee (HOA fee) is an amount of money that must be paid monthly by owners of certain types of residential properties, and HOAs collect these fees to assist with maintaining and improving properties in the association.

Debt-to-Income (DTI)

Your DTI is expressed as a percentage and is your total "minimum" monthly debt divided by your gross monthly income. The conventional limit for DTI is 36% of your monthly income, but this could be as high as 41% for FHA loans. A DTI of 20% or below is considered excellent.

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Demystifying Property Taxes: A Comprehensive Guide to Understanding Due Dates and Functionality

Property taxes are a cornerstone of homeownership, yet many individuals find them complex and intimidating. In this article, we'll delve into the workings of property taxes, unraveling their mechanisms, and shedding light on when they are due. By the end, you'll feel empowered with the knowledge to navigate your property tax obligations confidently. Understanding Property Taxes: At its core, property tax is a levy imposed by local governments on real estate properties within their jurisdiction. The tax amount is determined based on the assessed value of the property, which is typically appraised periodically by assessors. This assessed value serves as the basis upon which the tax rate, often expressed as a percentage, is applied to calculate the property tax owed. The Role of Property Taxes: Property taxes serve as a vital source of revenue for local governments, funding essential public services and infrastructure projects. These include but are not limited to schools, roads, public safety, parks, and community programs. Thus, property taxes directly contribute to the well-being and development of the community. Due Dates and Payment Frequency: Property tax due dates vary depending on local regulations and tax schedules. In most cases, property taxes are due annually or semi-annually. Property owners must be aware of their jurisdiction's tax calendar to avoid late payments and potential penalties. Local governments typically issue property tax bills well in advance of the due date, providing property owners with ample time to prepare for payment. Navigating Property Tax Bills: Property tax bills contain essential information, including the amount owed, any exemptions or deductions applied, and instructions for payment methods. It's essential for property owners to carefully review their tax bills to ensure accuracy and address any discrepancies promptly. Additionally, property tax bills may offer opportunities for savings through available exemptions or tax relief programs. Tips for Managing Property Taxes: Stay informed: Keep track of your local tax calendar and stay updated on any changes or updates to property tax regulations. Budget accordingly: Incorporate property taxes into your financial planning to ensure you have funds set aside for timely payments. Explore exemptions and deductions: Investigate potential property tax exemptions or deductions for which you may qualify, such as homestead exemptions or property tax relief programs. Seek professional guidance: If you're unsure about any aspect of your property taxes or need assistance with tax planning, consider consulting with a qualified tax professional or financial advisor. Property taxes are a fundamental aspect of homeownership, contributing to the vibrancy and sustainability of local communities. By understanding how property taxes work and staying informed about their due dates and functionality, property owners can navigate their tax obligations with confidence. Remember to leverage available resources, seek professional guidance when needed, and proactively manage your property tax responsibilities for a smoother homeownership experience.

Unveiling Santa Fe's Timeless Heritage: A Journey through Cultural Magnificence

In the heart of New Mexico lies a city that serves as a living canvas of history—a place where heritage thrives, intertwining Native American legacies and Spanish colonial influences. Santa Fe, New Mexico, with its vibrant cultural tapestry, offers an immersive experience, inviting residents and visitors alike to embrace its rich and diverse heritage. A Tapestry Woven with Heritage From its earliest roots entrenched in Native American traditions to the remnants of Spanish colonialism, Santa Fe's essence is deeply rooted in its cultural tapestry. The city stands as a testament to the fusion of these influences, harmoniously blending ancient rituals with the allure of historic architecture. A Hub of Cultural Extravaganza Santa Fe isn't just a city; it's a stage where artistry and tradition collide. The city pulsates with life, offering a myriad of avenues to immerse oneself in its cultural richness. Art galleries, museums, and cultural events serve as gateways to this vibrant heritage. Embarking on a Journey through Time Step into the storied past by exploring the city's landmarks—treasures that stand as guardians of Santa Fe's narrative. The Palace of the Governors, steeped in history, whispers tales of resilience and change. Meanwhile, the enchanting Loretto Chapel, famed for its miraculous staircase, intrigues with its architectural marvels. A Kaleidoscope of Artistry Santa Fe’s art scene is a realm unto itself, an irresistible invitation to indulge in creativity. Art galleries showcasing eclectic collections and exhibitions act as conduits to diverse expressions. The city's cultural events, notably the Santa Fe Indian Market and Spanish Market, are vibrant festivals, where traditional art and crafts come to life, each piece resonating with stories of heritage and craftsmanship. Embracing Tradition, Embracing Tomorrow In Santa Fe, heritage isn't confined to museums and historic sites; it's an everyday celebration, interwoven into the city's fabric. Every brushstroke on a canvas, every note of traditional music, and every dance step echoes a legacy passed down through generations. The Invitation to Discover As the sun sets over the cityscape, Santa Fe stands as a testament to time—a living homage to its rich and diverse cultural heritage. The invitation is open, beckoning travelers and enthusiasts to explore the enchanting blend of Native American roots and Spanish colonial legacies—a voyage that promises to ignite the soul and immerse one in an unparalleled cultural experience. In Santa Fe, the past isn't a distant memory; it's a thriving heartbeat that resonates through every cobblestone street and every colorful celebration—an invitation to journey through time and witness the timeless beauty of a city that proudly wears its heritage on its sleeve. Walk in beauty.

Demystifying the Home Buying Process: From Dream Home to Closing Day

You are buying a new home and you don't exactly understand what happens once your offer is accepted. This is very common by the way. I like to say that the invisible power of what I do, if I am doing it properly, is to make this process as seamless and easy for my clients as humanly possible. The closing process in the home-buying journey is the final step before you become the official owner of a property. It involves several key tasks and the exchange of important documents. The most important thing to note is that it is all time-sensitive based and so having thorough communication with all team members is crucial for a smooth and seamless Clear-to-Close transaction stage so that you close on time and get the keys to your new dream home. So that we can finally demystify it for you, here's a step-by-step guide to how the closing process typically works: Select a Closing Agent: You and the seller will typically choose a closing agent or a settlement company. This can be an attorney, title company, or escrow service, depending on local practices. The closing agent oversees the closing process and ensures all parties meet their obligations. Title Search and Title Insurance: The closing agent will conduct a title search to ensure there are no outstanding claims or liens on the property. You will also purchase title insurance, which protects you from any unforeseen issues with the title. Home Inspection and Appraisal: Before closing, you should have already completed a home inspection and an appraisal. If there are issues that need to be addressed, you can negotiate with the seller to make repairs or adjust the purchase price. Final Walk-Through: Typically, you'll have the opportunity for a final walk-through of the property before closing to ensure it's in the same condition as when you made your offer. Closing Disclosure: At least three business days before closing, you'll receive a Closing Disclosure statement that outlines all the costs associated with the transaction. Review this document carefully to ensure everything is accurate. Closing Costs: You'll need to bring a certified or cashier's check for the total closing costs, which may include the down payment, lender fees, prepaid taxes, insurance, and more. Alternatively, you may be able to wire the funds to the closing agent. Signing Documents: On the day of closing, both you and the seller will meet at the closing agent's office. You'll be presented with a stack of documents to sign, including the mortgage note, the deed of trust, and various other legal documents. Funding: Once all parties have signed the necessary documents and the funds are available, the closing agent will disburse payments to the seller, the real estate agents, and other parties involved in the transaction. Recording the Deed: After signing, the deed and mortgage documents will be sent to the county recorder's office to officially transfer ownership of the property from the seller to you. This is where public records are updated to reflect the change in ownership. Receiving the Keys: Once the deed is recorded and the funds have been distributed, you'll receive the keys to your new home. Congratulations, you're now a homeowner! It's important to note that the specific steps and requirements can vary depending on local laws and regulations, as well as the terms of your purchase agreement. The closing process is a crucial final step in buying a home, and it's essential to review all documents carefully and ask questions if you're unsure about any aspect of the transaction.

Hear From My Clients

Eric S.

Maya Hiersoux transformed my home-buying experience in Santa Fe. She stands above any agent I've worked with, taking time to thoroughly understand my needs and preferences. Her deep market knowledge and strategic expertise guided me to the perfect home within budget. Maya's outstanding communication kept me informed at every step, making complex decisions manageable. Her client-first mindset and ability to anticipate concerns led to a smooth process and a home that exceeds expectations. For anyone seeking a realtor who combines expertise with genuine care, Maya Hiersoux should be on your list in Santa Fe.

Mary S.

From the day we met, my daughters and I knew you were the perfect team to represent us in the sale of my sister’s home on Palace Ave. Her home was the scene of many memories and good times and we knew we were in good hands when you agreed to be the listing agents. Your knowledge of the area and the market was impressive, but I think we valued your honesty most. Your guidance through the whole process was invaluable. A simple thank you doesn’t seem enough to express our gratitude.

E S

Maya Hiersoux transformed my home-buying experience in Santa Fe into something truly exceptional. I can confidently say she stands head and shoulders above any agent I've worked with. What sets Maya apart is her thoughtful approach to understanding client needs. Before we began our search, she invested time in thoroughly understanding my goals and preferences. She is super-intuitive. Her deep market knowledge and strategic deal-making expertise made a big difference as she guided me to the perfect home within my budget. Maya's communication style is outstanding - always clear, proactive, and trust-building. She kept me fully informed at every step, making complex decisions feel manageable. Her client-first mindset was apparent in every interaction, and her ability to anticipate and address concerns before they became issues was remarkable. My end result? A home that exceeds my expectations, a smooth transaction process, and an experience that has redefined what exceptional real estate service looks like. For anyone seeking a realtor who combines market expertise with genuine care for their client's success, Maya Hiersoux should be on your list of realtors to meet in Santa Fe.

Maya Hiersoux

Broker Associate | License ID: 54287

+1(505) 479-0194 | mayanm@mayahiersoux.com