How Much Can I Save?

The equity gap is the difference between the home's sale price and the remaining loan balance you're assuming. For example, a $650,000 home with a $420,000 remaining balance has a $230,000 equity gap. This is the cash you need to bring to close — similar to a down payment.

You have options. Look for homes with smaller equity gaps — newer loans tend to have higher remaining balances and lower gaps. You can also negotiate seller financing or explore second mortgage options. The key is finding listings where your available cash covers the gap.

Most lenders require that your total monthly debts (including housing) stay under 43% of your gross monthly income. We take 43% of your income, subtract your existing debts, and the remainder is the most you can spend on a mortgage payment (including taxes and insurance).

No. This is for educational purposes only — it gives you a rough estimate based on the numbers you enter. Actual qualification depends on credit score, employment, loan type, and lender guidelines. Contact a lender for a formal pre-approval.