Perfect House, Perfect Price

Searching for your dream home can be an exciting time, but there’s no buzzkill like finding out you can’t afford it. That’s why it’s important to have a price range in mind when you start.

But how do you figure out how much you can afford? 

Budgets, debts, down payments

Take a comprehensive look at your budget and debts, and then consider what your budget could look like for a new home.

Remember – it’s not just the mortgage to consider, but also the electric bill, water bill, and other costs associated with the new house.

Affordability also depends on the down payment: The more you put down, the less you pay monthly. But if you don’t have enough for a down payment, it won’t matter if you could afford the house monthly because you won’t be able to buy it. 

Determine what you could afford

We’ve got the products and the people to help you figure it out.

Affordability Calculator

A quick, easy way to estimate how much of a home you could afford based on income, down payments, and interest rates.

Ask an expert

Select a certified expert through for free through our HomeAdvantage® service to get the help you need. 

Down payments

A down payment on the property is a necessary starting point.

This means you pay a certain amount – traditionally 20% -- of the home’s value immediately, and then the rest you pay off with a long-term loan, typically 30 years.

Some quick math can tell you that a 20% down payment on a $200,000 house, or $40,000, is the kind of money you’d really have to plan for. But if you’re a first-time homebuyer, your down payment could be as little as 3%. 

3% for a down payment?

Affinity Plus Federal Credit Union offers the 97% Purchase Loan to first-time homebuyers, requiring only 3% up front. There are also fixed-rate mortgages, so you’d always know what your monthly payments would be, or adjustable rates to let you take advantage of lower interest rates. 

There’s more than one option for down payments on your first home. Schedule an appointment to chat with an Affinity Plus mortgage loan officer to learn more. 

We love answering questions, because at Affinity Plus, we believe the more you know about your financial life, the more confidence and in control you’ll feel.

How can Affinity Plus add more to your life?