Question 1

How much house can I afford on a $100,000 salary?

Accepted Answer

Following the 28/36 rule with 20% down and a 6.875% rate, a $100,000 salary typically supports a home price of $325,000–$375,000, depending on property taxes and other debts. Use our affordability calculator for a precise number.

Question 2

What credit score do I need to buy a house?

Accepted Answer

Conventional loans generally require 620+, FHA loans accept 580+ (sometimes 500 with 10% down), VA loans have no official minimum but most lenders want 580–620, and USDA loans require 640+.

Question 3

Is 20% down always required?

Accepted Answer

No. Conventional loans allow as little as 3% down (5% for second homes). FHA requires 3.5%. VA and USDA allow 0% down. However, putting less than 20% down on a conventional loan means paying PMI.

Question 4

What's the difference between APR and interest rate?

Accepted Answer

The interest rate is the cost of borrowing the principal. APR includes the interest rate plus fees (origination, points, broker fees) expressed as an annual rate. APR is the better metric for comparing loan offers.

Question 5

Should I get a 15-year or 30-year mortgage?

Accepted Answer

A 15-year mortgage has higher monthly payments but dramatically lower total interest. A 30-year has lower payments and more flexibility — you can always pay extra. The right choice depends on your cash flow, retirement horizon, and investment opportunity cost.

Question 6

Are these calculators free to use?

Accepted Answer

Yes. Every calculator on this site is free, requires no account, and processes entirely in your browser. We don't store your inputs or sell your data.

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