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Real Underwriting Math

How Much Home Can I Afford? Run the Real Numbers

Calculate how much home you can afford using the same back-end DTI ceilings, PITI math, and program limits underwriters use for Conventional, FHA, VA, USDA, and Jumbo loans — then talk to a Simply Approved Mortgages Loan Officer to make it real.

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Quick answerSummary

How much home you can afford comes down to three numbers: your gross monthly income, your monthly debts, and your down payment. Most loan programs cap total debt-to-income between 43% and about 50% (higher with strong compensating factors), and your housing payment includes principal, interest, taxes, insurance, and any mortgage insurance — not just the loan payment.

  • ✓Uses real published DTI caps — Fannie Mae 45%, FHA 43% (up to ~56.99% with AUS + factors), VA 41% + residual, USDA 41–44%, Jumbo ~43%
  • ✓Solves for max home price so full PITI + HOA fits your budget
  • ✓Compare FHA, VA, USDA, Conventional, and Jumbo side by side
  • ✓No login, no obligation
  • ✓Educational estimate only — not a quote, lock, offer, or commitment to lend
  • ✓Upgrade to a verified pre-approval whenever you’re ready

What this means for you: Run your real numbers below, then confirm them with a Simply Approved Mortgages Loan Officer — a pre-approval turns an estimate into a budget sellers will accept.

SA

Written by

Simply Approved Mortgages Team

Licensed Loan Officers · NMLS# 2620881

9 min read·Independently researched · No paid product placement

Get a verified affordability number from a real loan officer

A Simply Approved Mortgages Loan Officer reviews your income, debts, and target ZIP and returns a personalized affordability estimate typically within one business day. Not a quote, lock, offer, or commitment to lend.

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Home affordability by the numbers

The numbers underwriters actually use

45%

Fannie Mae back-end DTI benchmark

Standard conventional guidelines: 45% cap, up to 50% with strong compensating factors and a DU Approve/Eligible. (CFPB's General QM rule no longer uses a 43% DTI cap — it's now a price-based test.)

43%

FHA standard back-end DTI (manual UW)

HUD Handbook 4000.1 sets a 43% back-end benchmark for manual underwriting; with an AUS Approve/Eligible and strong compensating factors, FHA can stretch to approximately 56.99%.

$832,750

2026 baseline conforming loan limit

FHFA Conforming Loan Limits — higher in designated high-cost counties.

Sources: CFPB Regulation Z (QM); HUD 4000.1; FHFA 2026 Conforming Loan Limits. Individual results vary. Not a quote, lock, offer, or commitment to lend.

How much home can you actually afford?

Affordability isn’t a wish — it’s a math problem. Every mortgage underwriter in the country solves the same equation: after your monthly debts, how much of your gross income is left over for a housing payment that still keeps your debt-to-income (DTI) ratio inside your loan program’s ceiling? Then, working backwards from that housing payment, what home price does it buy at today’s rate?

This page walks you through the same underwriting math using published agency guidelines, and the calculator below runs it for you. It is an estimate for education — not a quote, rate lock, offer, approval, or commitment to lend. Binding figures only appear on your official Loan Estimate, delivered within three business days of a completed application under the CFPB TRID rule.

How lenders decide how much you can afford

Lenders look at four levers, in this order:

  • Gross monthly income. Base pay, self-employment net income (after write-backs), and qualifying bonus/commission/overtime per Fannie Mae Selling Guide B3-3.
  • Monthly debts pulled from your credit report. Every reported payment counts — car, student loans, credit-card minimums, personal loans, and cosigned debt.
  • Program DTI cap. Fannie Mae 45% (up to 50% with factors), FHA 43% standard (up to ~56.99% with AUS + factors), VA 41% guideline + residual income, USDA 41% (44% with GUS), Jumbo ~43%.
  • Rate, taxes, insurance, HOA. A representative rate and your ZIP’s tax/insurance rates decide how much home price your budget actually buys.

Agency DTI caps — the ceilings underwriters use

ProgramBack-end DTI capMin. downSource
Conventional45% (up to 50% with factors)3%Standard conventional guidelines
FHA43% standard (up to 56.99% with AUS + factors)3.5% (580+ FICO)HUD Handbook 4000.1
VA41% guideline + residual income0%VA Lenders Handbook M26-7
USDA41% (up to 44% with GUS Accept)0%USDA HB-1-3555, Ch. 11
Jumbo~43% (investor overlays vary)10%+Agency-jumbo / non-agency overlays

DTI ceilings are the wall, not the goal. A payment that fits your life matters more than a payment that fits the cap.

The 28/36 rule — what it is and isn’t

The 28/36 rule is a budgeting guideline (not an underwriting rule): keep housing (PITI + HOA) at or below 28% of gross monthly income and total debts at or below 36%. Underwriters actually enforce the 36% number as back-end DTI — and most programs allow you to go higher. Use 28/36 as a comfort target, not a limit.

Free affordability calculator

Run your numbers — real DTI, real PITI

Adjust the inputs to see what fits your budget. Educational only — not a quote, rate lock, offer, approval, or commitment to lend.

Conventional guideline: back-end DTI up to 45.0%. Fannie Mae caps back-end DTI at 45% (up to 50% with strong compensating factors and AUS approval).

Sets your loan-limit tier (standard vs. high-cost).

$
$
$
%
%
%
$

Illustrative only. Excludes PMI/MIP, VA funding fee, USDA guarantee fee, lender overlays, reserves, credit-score eligibility, and compensating-factor adjustments. Loan limits from FHFA/HUD 2026. Not a quote, rate lock, offer, approval, or commitment to lend. Binding figures appear on your Loan Estimate.

Estimated max home price
$460,169
Loan amount: $430,169
Monthly breakdown (PITI + HOA)
Principal & interest$2,719
Property taxes$422
Homeowners insurance$134
HOA$0
Total monthly payment$3,275
Your debt-to-income
45.0% / 45.0% cap

Calculated as (total monthly housing payment + other monthly debts) ÷ gross monthly income, the same back-end ratio underwriters use.

Today's rate snapshot

The rate you plug in matters — a lot

A 1-point swing in rate moves your maximum affordable price by $25K–$30K on a typical purchase. Illustrative benchmarks from Freddie Mac PMMS and MND — not a quote, lock, offer, or commitment to lend. Binding figures appear on your Loan Estimate.

Today's rates

Live ratesLive pricing. Rates are retrieved from our pricing provider when you run a scenario.

Real rates — your scenario, not a guess

Today's rate options below refresh twice each business day from our wholesale pricing engine; run your own scenario in the pricing tool. National survey averages below give you market context — they're not Simply Approved's pricing.

Our live pricing engine

See your real rate — for your scenario, in our pricing tool

Pull live, scenario-specific pricing from our wholesale pricing engine. Your binding rate and APR are confirmed on your Loan Estimate after a quick file review.

See My Live Rate →

Pricing snapshot

Live ratesLive pricing. Rates are retrieved from our pricing provider when you run a scenario.

Today's Mortgage Rate Options at a Glance

Four real options from today's wholesale pricing for one documented sample scenario per program — no form needed. Updated twice each business day, about 10 AM and 2 PM Eastern. Your own rate depends on your credit, down payment, property, state and lock date.

National market context

Freddie Mac PMMS — weekly U.S. averages

Source: Freddie Mac PMMS (PMMS_history.csv)

Loading latest PMMS averages…

PMMS figures shown above are Freddie Mac's national survey averages, published weekly by Freddie Mac (PMMS_history.csv) — they are not Simply Approved Mortgages' rates, not a quote, not a lock, and not an offer or commitment to lend. Your actual rate, APR, and payment depend on credit profile, loan program, occupancy, LTV, DTI, property type, lock period, and current market pricing at the time of lock. Your binding figures appear on your Loan Estimate. Simply Approved Mortgages LLC · NMLS# 2620881 · Equal Housing Opportunity.

Mortgage market update

What this month's rates and loan limits mean for your budget

Live Freddie Mac PMMS weekly averages plus current FHFA conforming and HUD/FHA loan limits. Auto-refreshes as new agency data is published — no stale figures. Illustrative only; not a quote, lock, offer, or commitment to lend.

Purchase market update

What buyers should know this month

November 2026

30-Yr Fixed · national avg

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15-Yr Fixed · national avg

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2026 buying power

Conforming baseline: $832,750
FHA floor / ceiling: $541,287 – $1,249,125

What it means for purchase buyers in November 2026: Conventional fixed rates move weekly with the bond market, so the number you see today is the national average — not your locked rate. Federal loan limits for 2026 are published by FHFA and HUD; high-cost counties carry higher caps. Page reviewed November 2026 (2026 program year). Sources: Freddie Mac PMMS, FHFA, HUD. Individual results vary.

How to estimate what you can afford — in five minutes

  1. 1

    Add up gross monthly income

    Base pay + documented bonus/commission/overtime. Use gross, not net.
  2. 2

    Add up monthly debts

    Car, student loans, credit-card minimums — everything on your credit report.
  3. 3

    Pick a program and DTI cap

    Conventional 45%, FHA 43% (up to ~56.99% with AUS + factors), VA 41% + residual, USDA 41–44%, Jumbo ~43%.
  4. 4

    Model rate, taxes, insurance, HOA

    Use a representative rate and property tax/insurance rate for your ZIP.
  5. 5

    Solve for max home price

    Adjust until full PITI + HOA fits inside the program’s DTI cap.
  6. 6

    Verify with a Simply Approved Mortgages Loan Officer

    A verified pre-approval adds MI, funding fees, and lender overlays your estimate doesn’t.
Expert Insight
The number this calculator returns is a ceiling, not a target. In our experience, the borrowers who stay happy pick a payment that fits their life, not one that fits the DTI cap — usually 5–10 points of DTI below the maximum. When you’re ready, upgrade to a verified pre-approval so the number you shop with is one a listing agent will actually trust.
Simply Approved Mortgages Team
Licensed Loan Officers • NMLS# 2620881

What changes how much you can afford

✓

Program choice

FHA’s 43% standard DTI (stretchable to ~56.99% with AUS + factors) can qualify more house than Conventional’s 45% — at the cost of MIP.

✓

Down payment

More down means a smaller loan and more DTI room for taxes and insurance.

✓

Interest rate

A 1-point swing shifts your max price by $25K–$30K on a typical purchase.

✓

Property taxes

A 1.6% ZIP vs 0.6% ZIP can cost $80K–$100K of max price at the same DTI.

✓

Homeowners insurance

Coastal, wildfire, and hail zones price higher and shrink the affordable range.

✓

HOA dues

$300/mo of HOA is roughly $50K of home price at 7% — plan for it up front.

2026 HUD Income Limits · Area Median Income (AMI)

Do you qualify for down-payment or low-income mortgage programs?

Many affordability programs — HomeReady, Home Possible, most state and local down-payment assistance, USDA, and HUD Section 8 — use HUD's published Area Median Income (AMI) to set eligibility. Compare your household income to the AMI for your area below. Figures are the 4-person household values published by HUD for 2026.

HomeReady and Home Possible cap qualifying income at 80% of AMI for most census tracts. USDA Guaranteed uses moderate-income limits (typically 115% of AMI, published separately). Down-payment assistance programs vary by state and program. Values above are HUD's published 2026 4-person figures; household-size adjustments apply. Not a commitment to lend; eligibility is confirmed at underwriting. Source: HUD USER Income Limits 2026 .

2026 HUD Fair Market Rents · Florida

What renters in Florida could buy at payment parity

We pulled HUD's published 2026 2-bedroom Fair Market Rents for Floridacounties and calculated the loan amount whose full PITI payment would roughly match today's median rent. It's a quick way to see if buying makes sense in your area.

*Illustrative only for the Florida areas listed above — not a quote, lock, offer, or commitment to lend. Assumes 6.75% 30-year rate, ~22% of payment going to taxes/insurance/HOA, and 3.5% down. Binding figures appear on your Loan Estimate. Individual results vary. Florida rent figures: HUD User FMR 2026 .

Next steps

See Today's Rates

Emailing your Florida rent vs buy comparison scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.

2026 HUD Fair Market Rents · Colorado

What renters in Colorado could buy at payment parity

We pulled HUD's published 2026 2-bedroom Fair Market Rents for Coloradocounties and calculated the loan amount whose full PITI payment would roughly match today's median rent. It's a quick way to see if buying makes sense in your area.

*Illustrative only for the Colorado areas listed above — not a quote, lock, offer, or commitment to lend. Assumes 6.75% 30-year rate, ~22% of payment going to taxes/insurance/HOA, and 3.5% down. Binding figures appear on your Loan Estimate. Individual results vary. Colorado rent figures: HUD User FMR 2026 .

Next steps

See Today's Rates

Emailing your Colorado rent vs buy comparison scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.

Credit Documentation & Monitoring

Credit Reports and Credit Monitoring for affordability analysis

Credit is one of the four underwriting buckets every lender reviews — and one of the few you can actively improve before you apply. Monitoring your credit throughout the process helps you catch errors, fraud, and score changes early, which protects your approval timeline and your rate.

Step 1 · Lender Pull

Ordering Credit for Your Pre-Approval File

Once you sign your loan application (Form 1003) and disclosures, your Simply Approved Mortgages Loan Officer orders a tri-merge residential mortgage credit report (RMCR) from Equifax, Experian, and TransUnion. This is a hard inquiry, but FICO's model treats mortgage inquiries within a 45-day window as a single event, so shopping lenders during that window will not stack on your score.

  • What we need from you: signed borrower authorization, government-issued photo ID, Social Security number (or ITIN), and current address.
  • What the report shows underwriters: middle FICO score, open tradelines, minimum payments, late history, collections, public records, and recent inquiries.
  • How long it's valid: 120 days for conventional loans and for FHA/VA/USDA (HUD guidelines, VA Lender's Handbook Ch. 4). Older reports must be re-pulled before closing.
  • Rapid rescore: if a legitimate error is on your report, we can request a rapid rescore in 3–7 business days after you supply documentation from the creditor.
Pay for Your Credit Report →

This link redirects to our third-party credit vendor's payment portal. You pay the report fee directly so we can pull your tri-merge credit report for your pre-approval file. A credit pull is required for underwriting; this is not a commitment to lend.

Step 2 · Self-Check

Review and Monitor Your Credit at MyITINCredit.com

Before we pull your file, review and monitor your credit at MyITINCredit.com. Their $1 promotional trial gives you tri-bureau visibility plus ongoing credit monitoring so you can catch changes, disputes, or new accounts as they appear — not after they've already delayed your loan.

  • Verify accuracy: confirm names, addresses, SSN/ITIN, and every open account belong to you.
  • Dispute errors: the Fair Credit Reporting Act gives you the right to dispute inaccurate items directly with the bureau — no charge.
  • Address collections and charge-offs: a settled or paid collection can be documented in advance so it does not stall underwriting.
  • Pay down utilization: credit-card balances reported below 30% of the limit typically produce the strongest scores.
  • Avoid new credit: do not open new cards, finance a car, or co-sign for anyone from now through closing.
  • Monitor continuously: credit monitoring alerts you to new inquiries, balance changes, and potential identity theft while your loan is in process.
Check & Monitor Your Credit at MyITINCredit.com →

MyITINCredit.com is a service operated by Simply Approved Corporation (a DBA of that entity), which is the parent company of Simply Approved Mortgages LLC. Simply Approved Mortgages may receive subscription revenue if you choose to enroll. Credit monitoring through MyITINCredit.com is optional and is not required to apply for or obtain a mortgage with us. Promotional pricing, trial terms, and monitoring features are set by MyITINCredit.com and subject to change.

Why credit monitoring matters during a mortgage — A single new collection, missed payment, or unauthorized inquiry can change your qualifying score or trigger additional underwriting conditions. Typical minimum scores* — Conventional 620, FHA 580 (3.5% down) or 500 (10% down), VA no HUD minimum (most lenders 580–620), USDA typically 640, Jumbo 680–740, Doctor Mortgage 680–700+, Non-QM/DSCR varies by program, ITIN 620–680 alternative credit. Investor and lender overlays apply; individual results vary. Not a commitment to lend.

How much house can I afford — by income

Illustrative only. Assumes 43% back-end DTI, $500/mo other debts, 6.75% 30-year rate, 1.1% property tax, 0.35% homeowners insurance, no HOA, 5% down, and typical Conventional PMI at ~0.5% of loan (removed at 78% LTV per HPA). Actual pricing depends on FICO, program, ZIP, and lender overlays. Not a quote, lock, offer, or commitment to lend — binding figures appear on your Loan Estimate.

Gross annual incomeEstimated max priceApprox. PITI
$60,000~$225,000~$1,650
$80,000~$310,000~$2,265
$100,000~$395,000~$2,880
$125,000~$500,000~$3,655
$150,000~$605,000~$4,430
$200,000~$820,000~$5,970

Common affordability mistakes to avoid

  • Maxing out DTI. Just because underwriting allows 50–57% doesn’t mean your life allows it. Groceries, childcare, and retirement savings don’t appear on the credit report.
  • Ignoring taxes and insurance. A great rate on a high-tax ZIP still produces a big PITI. Underwriting escrows both.
  • Forgetting HOA. HOA counts toward DTI even though it isn’t part of PITI on the loan itself.
  • Skipping reserves. Many programs require 2–6 months of PITI in liquid reserves — money you still have after closing.
  • Opening new credit. A new car payment between application and closing can push you past DTI and blow up the approval.

The honest trade-off

Stretching your affordability — pros and cons

Buying at the top of your affordability range is a strategy, not a mistake — but it comes with trade-offs. Here’s the straight read.

Pros of buying at the top of your range

  • +

    Locks in more house in a rising market.

    You aren’t priced out later if home values climb.

  • +

    Builds equity faster on a bigger base.

    Principal paydown and appreciation both work on a larger number.

  • +

    Room to grow into the payment.

    Raises, refinances, and paying off other debts free up cash flow.

  • +

    Avoids moving twice.

    Buys long-enough house instead of starter house.

Cons of buying at the top of your range

  • !

    Squeezes savings and retirement.

    Every extra $500/mo of PITI is $500/mo not going to 401(k) or emergency fund.

  • !

    Less cushion for tax and insurance increases.

    Escrow shortages can jump your payment $100–$300/mo overnight.

  • !

    Repair and furnishing budgets get thin.

    New homes still need appliances, window coverings, and maintenance reserves.

  • !

    Higher risk if income drops.

    Job loss or reduced hours is harder to absorb near the DTI ceiling.

Wholesale advantage

Compare loan officer compensation on your mortgage quote

Loan officer compensation is part of the cost of a mortgage. On eligible residential loans, Simply Approved Mortgages generally uses 1.5% lender-paid compensation. Enter the compensation shown on another lender's Loan Estimate to see the difference in dollars.

Simply Approved Mortgages compensation (1.5%)$4,500
Quote you entered (2.75%)$8,250

Compensation difference on this illustration: $3,750.

How lower compensation can help you

Room for a lower rate

When less compensation is built into pricing, there can be room for a lower interest rate, which may lower your monthly payment.

Possible credits toward closing

Depending on the rate you choose, pricing can sometimes include a lender credit toward third-party closing costs, so you may bring less cash to closing.

More purchasing power

A lower rate means a lower monthly payment, which can lower your debt-to-income ratio and may help you qualify for more home on the same income.

Wholesale, not retail

As a mortgage broker we compare pricing from wholesale lenders instead of offering a single bank’s retail pricing.

Tip: On page 2 of your Loan Estimate, look at Section A, "Origination Charges." If the lender pays the loan officer, that compensation usually does not appear there as its own line; it is built into the interest rate. That is why comparing the rate and any lender credits side by side matters.

Get a second opinion on your Loan Estimate

Already have a Loan Estimate from another bank or broker? Share it with a Simply Approved Mortgages Loan Officer, who will compare the rate, fees and credits side by side with options we can arrange. No cost to request a review.

Illustration only — not a quote, lock, offer, or commitment to lend; binding figures appear on your Loan Estimate. Lender-paid compensation is paid by the lender, not directly by you, and is part of the loan's pricing, so the loan is not free of costs. A lower compensation figure does not by itself guarantee a lower rate or lower closing costs; individual results vary by credit, loan type, property and market conditions. Residential lending in FL and CO only. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.

Home Affordability — Frequently Asked Questions

Answers to the most common home affordability questions, written by licensed loan officers.

The Consumer Financial Protection Bureau (CFPB) and Fannie Mae both anchor affordability to debt-to-income (DTI). Most Qualified Mortgage loans target a back-end DTI at or below 43% per CFPB Regulation Z, with room up to ~50% for strong compensating factors and AUS approval. A useful starting rule: total housing (PITI + HOA) at or below 28% of gross income and total debts at or below 36–43%. Your actual max depends on income, monthly debts, down payment, rate, taxes, insurance, and program.

People also ask

More affordability questions we hear every week

What percentage of income should go to a mortgage?+
A common guideline is 28% of gross monthly income for housing (PITI) and 36% for total debt payments. Underwriters allow more — Conventional up to 45–50% back-end, FHA 43% standard (up to ~56.99% with AUS + compensating factors) — but a payment that fits your budget matters more than a payment that fits the cap.
How much should I have saved before buying a home?+
Plan for down payment (3–20%+), closing costs (2–5% of purchase price per Freddie Mac), and reserves (2–6 months of PITI on many programs). A Simply Approved Mortgages Loan Officer builds your exact cash-to-close figure into your Loan Estimate.
Can I afford a home with student loans?+
Yes, as long as the payment fits DTI. Standard conventional guidelines count the actual reported payment for IDR plans (including $0). FHA (4000.1) uses the greater of the actual payment or 0.5% of the outstanding balance. VA and USDA have their own conventions — check with a loan officer.
Does the calculator show my monthly payment breakdown?+
Yes — principal & interest, property taxes, homeowners insurance, and HOA are shown separately so you can see exactly where the money goes and adjust any input that’s off for your ZIP.
Why does a higher rate lower how much I can afford?+
Because P&I climbs faster than most people expect. On a $300K loan at 30 years, moving from 6.0% to 7.0% adds ~$200/mo — which reduces your maximum affordable price by ~$25K–$30K at the same DTI cap.
Can two incomes combine to qualify?+
Yes. Co-borrower income adds to gross monthly income; co-borrower debts also count in DTI. Credit is pulled on both borrowers and the lower middle FICO is typically used for pricing under standard agency credit guidelines.
Affordability Request

Ready to take the next step?

Pick your loan type and complete a short, tailored request on our secure application page. Your Simply Approved Mortgages Loan Officer follows up within one business day.

Start My Approval →See Today's RatesOr call 877-813-7219

No obligation. Soft-pull options may be available.*

Trusted government resources

These independent government resources can help you research mortgage programs, rates, and your rights before you apply.

Simply Approved Mortgages is not affiliated with HUD, the CFPB, the FTC, the VA, or any other government agency. Links are provided for your independent verification.

See what you can afford — by Florida metro

Florida metro guides covering local median prices, Florida Housing and county DPA programs, insurance-heavy escrows, and property tax rates. Start with your estimate here, then upgrade to a verified pre-approval.

St. Petersburg, FL
Median: $395,000
Pre-approval guide →
Miami, FL
Median: $620,000
Pre-approval guide →
Orlando, FL
Median: $430,000
Pre-approval guide →
Tampa, FL
Median: $420,000
Pre-approval guide →
Jacksonville, FL
Median: $380,000
Pre-approval guide →
Fort Lauderdale, FL
Median: $560,000
Pre-approval guide →

See what you can afford — by Colorado metro

Colorado metro guides covering local median prices, CHFA and city DPA programs, closing costs, and mill-levy property taxes. Start with your estimate here, then upgrade to a verified pre-approval.

Denver, CO
Median: $580,000
Pre-approval guide →
Colorado Springs, CO
Median: $490,000
Pre-approval guide →
Aurora, CO
Median: $475,000
Pre-approval guide →
Fort Collins, CO
Median: $530,000
Pre-approval guide →
Lakewood, CO
Median: $565,000
Pre-approval guide →
Boulder, CO
Median: $850,000
Pre-approval guide →

Explore the full guide

Keep reading — the rest of the buying playbook

Each of these is a deep-dive on one piece of the purchase mortgage process. Bookmark whichever you need next.

Guide

Mortgage Pre-Approval

The verified, underwriter-reviewed letter listing agents actually trust.

Read the guide →

Guide

Mortgage Prequalification

Soft-pull estimate in five minutes — no FICO impact.

Read the guide →

Guide

First-Time Home Buyer Guide

Programs, grants, and the exact playbook for buying your first home.

Read the guide →

Guide

Purchase Mortgage Programs

FHA, VA, USDA, Conventional, Jumbo, Doctor, 1%-Down, DSCR — compared.

Read the guide →

Guide

Closing Costs Explained

Every closing cost line item — and how to lower it.

Read the guide →

Guide

FHA Loans

The 580-score, 3.5%-down path to homeownership.

Read the guide →

Guide

Today's Mortgage Rates

Live rate snapshot across FHA, VA, USDA, Conventional, and Jumbo programs.

Read the guide →

Guide

Mortgage Calculator

Full PITI with taxes, insurance, HOA, and MI — model any scenario.

Read the guide →
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Get monthly Freddie Mac PMMS rate updates, new FHFA/HUD loan limits, and HUD income-limit changes delivered to your inbox — plus fresh affordability tips from a Simply Approved Mortgages Loan Officer.

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From the Blog

Mortgage insights & guides

Plain-language articles to help you understand the home loan process, save on closing costs, and make confident decisions.

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First-Time Buyers

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May 28, 20266 min read
Veterans

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Apr 30, 20265 min read

Simplify Your Mortgage Journey with These Resources

Home Value Report
Check Your Credit
Mortgage Calculator
Home Affordability Calculator
Pay for my Credit Report
Mortgage Document Checklist
Down Payment Assistance
Native American Home Loans
FHA Loan Limits
See Today's Rates
Refinance Guide
Pre-Approval Request

Start My Approval

Complete this short request and a Simply Approved Mortgages Loan Officer will personally review your scenario. The form only asks what your program actually needs. Submitting it is not an application for credit and is not a commitment to lend.

What are you looking to do?

Pick one — the form adapts.

Pick a loan type

Programs for buying a home.
Government & conventional
Specialty credit
Build & renovate

Conventional loan — 3–20% down · 620+ FICO

Tell us about your scenario

The form below is tailored to Conventional loan — only the questions and documents your program needs.

Step 1 of 2 · about 90 seconds
See your options — one short screen
Encrypted connection (HTTPS) NMLS# 2620881 Equal Housing Opportunity

Simply Approved Mortgages LLC is licensed to arrange residential mortgage loans in Florida and Colorado only. We ask first so we never collect a mortgage inquiry we are not licensed to act on.

Purchase price and down payment help us size the conforming loan.

What's your goal?
Purchase price$450,000
$
Down payment (10.0%)$45,000
$

A range is enough here — no credit report is pulled and your credit is not affected.

Estimated monthly payment at these numbers
$3,431

Illustrative estimate only — not a quote, rate lock, offer of credit, or commitment to lend.

Submitting this form is not an application for credit and is not a commitment to lend. No credit report is pulled at this step.

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Equal Housing OpportunityEqual Housing OpportunityMortgage Broker — Not a LenderNMLS ID# 2620881NMLS Consumer AccessFlorida Mortgage Broker License #MBR7685Colorado Mortgage Company Registration

Licensing & Disclosures

Simply Approved Mortgages LLC | NMLS #2620881

Florida Branch Office (Miami, FL) | Branch NMLS #2688012

Florida Mortgage Broker License #MBR7685 | Colorado Mortgage Company Registration

Business Phone: (877) 813-7219

Equal Housing Opportunity

Broker identification. Simply Approved Mortgages LLC is a mortgage broker and is not a direct lender. We arrange residential mortgage loans with third-party wholesale lenders and do not make the lender's final credit decision or fund the loan. We arrange residential mortgage loans in Florida and Colorado. Business-purpose mortgage products may be arranged in additional states only where permitted by applicable law and pursuant to applicable licensing requirements or exemptions.

Credit and program terms. All loans are subject to lender credit approval, underwriting, acceptable appraisal or valuation when required, title review, insurance, and supporting documentation. Eligibility, programs, rates, APRs, points, lender credits, fees, payments, terms, loan amounts, down-payment requirements, mortgage insurance, and availability may vary based on borrower, property, occupancy, credit profile, loan-to-value ratio, debt-to-income ratio, lender, loan program, and state and may change without notice. Not all applicants, properties, products, or programs will qualify or be available in every state. Nothing on this site constitutes a loan approval, rate lock, offer, commitment to lend, guarantee of approval, or guarantee of terms or closing.

Rates, payments and calculators. Rates, APRs, payments, down payments, loan amounts, home values, estimated equity, savings, affordability estimates, closing costs, and other calculator or scenario results displayed on this site are estimates or illustrations unless expressly stated otherwise. Actual loan terms may differ. Taxes, homeowners insurance, mortgage insurance, association dues, lender charges, broker compensation, discount points, third-party charges, and other costs may apply. Advertised rates, payments, APRs, down payments, and other credit terms are subject to the assumptions and disclosures presented with the applicable advertisement. Applicable loan terms and disclosures will be provided as required for the particular transaction.

Mortgage products. FHA, VA, USDA, conventional, jumbo, non-QM, HELOC, reverse mortgage, down-payment-assistance, investment-property, DSCR, and other mortgage products referenced on this site are subject to their individual eligibility, underwriting, property, occupancy, and program requirements. Product availability varies by lender and jurisdiction. References to a mortgage product or program do not constitute a determination that a borrower or property qualifies.

Government-backed programs. Government-backed or government-insured mortgage programs referenced on this site may be subject to requirements established by the applicable government agency in addition to lender requirements. Government insurance or guaranties generally protect participating lenders against certain losses and do not constitute a guarantee of borrower approval.

Business-purpose products. DSCR, investment-property, and other business-purpose mortgage products referenced on this site are intended for qualifying business-purpose transactions. Business-purpose loans may be subject to different requirements and protections than consumer-purpose residential mortgage loans. Borrowers are responsible for accurately disclosing property occupancy and intended use.

Down payment assistance. Down payment or closing-cost assistance programs referenced on this site may be administered by governmental entities, housing finance agencies, nonprofit organizations, lenders, or other third parties. Program availability, funding, assistance amounts, eligibility requirements, repayment or forgiveness provisions, and other terms vary and may change or become unavailable without notice. Listing or referencing a program does not guarantee funding, eligibility, or mortgage approval.

Government affiliation. Simply Approved Mortgages LLC is not a government agency and is not affiliated with, acting on behalf of, sponsored by, or endorsed by HUD, FHA, VA, USDA, or any other federal, state, or local government agency. References to government agencies, programs, benefits, data, forms, or resources are provided for informational purposes and do not imply government sponsorship or endorsement of Simply Approved Mortgages LLC.

Fair lending. Equal Housing Opportunity. Simply Approved Mortgages LLC conducts business in accordance with applicable federal and state fair-housing and equal-credit-opportunity laws and does not discriminate on any prohibited basis.

No professional advice. Content on this site is educational and general in nature and is not legal, tax, accounting, financial, investment, estate-planning, or individualized government-benefits advice. Consumers should consult appropriate qualified professionals regarding their individual circumstances.

Third-party content. References or links to government agencies, lenders, assistance programs, products, services, or other third-party websites are provided for informational purposes or convenience. Simply Approved Mortgages LLC does not control and is not responsible for third-party content, availability, accuracy, or privacy practices.

NMLS Consumer Access: Verify Simply Approved Mortgages LLC, NMLS #2620881.

Simply Approved Mortgages LLC, 633 W 5th St, Ste 2600, Los Angeles, CA 90071 · 877-813-7219 · support@simplyapprovedmortgages.com. State licensing details available at the NMLS Consumer Access link above. © 2026 Simply Approved Mortgages LLC.

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Ask Sam AI

Ask SAM anything about mortgages

SAM is the Simply Approved Mortgages AI assistant. It answers general questions using the reviewed guides published on this site and links you to the primary government source. It is educational only — it does not quote a rate, payment, APR, approval or commitment to lend. A Simply Approved Mortgages Loan Officer reviews every scenario before any terms are confirmed.

Hi, I'm SAM — an AI assistant for Simply Approved Mortgages. I can explain loan programs, closing costs, DTI, down payments and which calculator or guide to use. I'm not a licensed loan officer, and nothing here is a quote, approval or commitment to lend.

SAM is an AI assistant — not a licensed loan officer, attorney, CPA or financial adviser. Answers are educational only, are not a quote, lock, offer or commitment to lend, and material loan terms must be reviewed by a Simply Approved Mortgages Loan Officer. Never share SSN/ITIN, date of birth, account numbers or passwords in chat. Residential mortgage loans are arranged in Florida and Colorado. Start My Approval.

Ask Sam AI provides general educational information only. It is an automated assistant, may be incomplete or out of date, and does not provide legal, tax or financial advice. Nothing it produces is a rate quote, APR, pre-approval, offer or commitment to lend. Never share a Social Security number, ITIN, date of birth, account number or password in chat. Simply Approved Mortgages LLC (NMLS #2620881) arranges residential mortgage loans in Florida and Colorado. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Equal Housing Opportunity.

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Add Simply Approved Mortgages as a preferred source on Google

We update these guides as HUD, FHFA, VA, USDA and CFPB publish new figures. If you want our updates to show up more often when you search Google, you can mark us as a preferred source from the Top Stories carousel:

  1. 1Sign in to your Google account and search a mortgage topic such as "mortgage rates".
  2. 2Select the icon next to "Top stories" to open the preferred sources panel.
  3. 3Search for Simply Approved Mortgages, tick the box, and save.
Google's preferred sources help

Preferred sources is a Google Search feature controlled entirely by you and by Google. Simply Approved Mortgages LLC (NMLS #2620881) does not control search results and makes no representation about how or whether our content will appear. Educational content only — not a quote, lock, offer, or commitment to lend.

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