My Household

The financial picture used in this calculation
Household
4-person family
Annual Household Income
$0
Monthly Debt Payments
$0/mo
Down Payment
$0
Credit Score
720 or higher

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Assumptions Used in This Calculation
Property tax rate 1.2175% annually
Homeowner's insurance estimate 0.85% of home value per year
Mortgage insurance rate (if down payment < 20%) 0.85% of loan amount per year
Mortgage rate used 6.75% (estimated for 720 or higher credit score)
Front-end DTI limit (housing payment ÷ income) 36%
Back-end DTI limit (all debts including housing ÷ income) 43%
Loan term 30 years
Area Median Income source 2025 HUD Area Median Income limits for Charlotte-Concord-Gastonia, NC-SC
Estimates only. This calculator is for informational purposes based on approximate tax rates, insurance rates, and standard lending guidelines. Actual mortgage rates, insurance costs, and loan qualification are determined by your lender. Consult a HUD-approved housing counselor or participating lender for personalized guidance.

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