Properties
Featured Listings Empower Exclusives
Services
Sell Your Home Buy a Home Financing Home Valuation Property Management
About
Our Agents Our Marketing Results
Search Homes Journal Reviews Careers Contact
(818) 848-3637
Financing

Know Your Numbers
Before You Shop

The most prepared buyers move fastest and negotiate hardest. Use our tools to understand your monthly payment, buying power, and loan options, all before you step foot in a home.

How Much Can I Afford? Monthly Payment Calculator
Buying Power

What Can You
Comfortably Afford?

Before you tour a single home, an estimated range helps you ask better questions. Lenders look at several things, including ratios like these. This calculator uses the settings listed under your result, and your lender sets its own.

28%
Housing Ratio
This calculator limits your monthly housing payment (PITI: principal, interest, taxes and insurance) to 28% of your gross monthly income. Each lender and loan program sets its own limit. Ask your lender which ratios apply to you.
43%
Total Debt Ratio (DTI)
This calculator limits your total monthly debt, housing plus all other obligations, to 43% of your gross monthly income. The share a lender accepts varies by lender and loan program. Ask your lender what applies to you.
20%
Down Payment and Mortgage Insurance
Mortgage insurance rules depend on the loan type. On many conventional loans, a 20% down payment means no private mortgage insurance, and a larger down payment lowers your payment. Many buyers put down less. Ask your lender how your down payment changes your payment and your options.
Income & Monthly Debts
Annual Gross Income $150,000
Include all income you receive, such as wages, self employment, retirement, Social Security, disability benefits, public assistance or housing assistance. Include income for everyone who would be on the loan. Your lender decides which income it counts and what documents it needs.
Monthly Debt Payments WHAT LENDERS COUNT AS DEBT

Include the minimum monthly payment for each:

• Auto loans & leases
• Student loans (even if deferred)
• Credit card minimum payments
• Personal loans & lines of credit
• Child support / alimony
• Other financed items (furniture, medical, etc.)

Do NOT include: rent (replaced by mortgage), utilities, insurance, groceries, subscriptions, or other living expenses.

Tip: Check your credit report. Your lender decides which obligations it counts and how it treats deferred loans.
Car, student loans, credit cards
Down Payment
Cash available to put down
Rate & Loan Details
Interest Rate 6.75%
Only the lender questions below use this. It does not change the estimate.
Empower's estimates, which you can change. Property tax and insurance are a percent of the price per year. PMI is a percent of the loan per year when the down payment is under 20%. Burbank's county rate is about 1.09% (1% base plus voter approved school and college bond rates, LA County FY 2025-26); other cities differ, and fixed assessments on your tax bill are extra. Insurance and PMI vary with the property, your credit and your down payment, so ask for quotes.
Your Estimated Home Price Range
 
Conservative:    ·  Stretch:  
An estimate only. Not a loan offer or pre-approval. Your lender decides what you qualify for.
Example numbers are shown. Replace them with your own.
Debt-to-Income Ratio (DTI)  
0%28%36%43%50%+
Below 36%
Lower
36 to 43%
Moderate
43%+
Higher
These ranges are for display only. Each lender and loan program sets its own limit.
Housing Limit (28% of Income) 
Existing Monthly Debt Payments$500
Payment Used in This Estimate (PITI) 
Down Payment$100,000
Estimated Loan Amount 
Questions to Ask Your Lender
Ask your lender whether mortgage insurance applies at your down payment, what it would add to your monthly payment, and how and when it can be removed. Ask what a larger down payment would change.
Questions About Financing?
Share your email and an Empower agent will follow up. Your email and the numbers above are sent to Empower. We can share names of lenders our clients have worked with, but the choice of lender is always yours. Empower Real Estate is a brokerage, not a lender.
Thank you. An agent will be in touch shortly.
Mortgage Calculator

Estimate Your Monthly Payment

Adjust the sliders to see how price, down payment, rate, and term affect your monthly payment. This is an estimate. Talk with a lender for figures based on your situation.

Home Price$1,100,000
Down Payment20% · $220,000
Interest Rate6.75%
Loan Term30 Years
Empower's estimates, which you can change. Quotes for your property will differ.
Estimated Monthly Payment
 
Principal, interest, taxes & insurance (PITI)
Principal & Interest 
Property Tax (est.) 
Home Insurance (est.) 
PMI$0
Loan Amount 
Example numbers are shown. Replace them with your own.
An estimate only, using the rate and term you select. Actual rates and payments depend on credit score, loan program, and lender. Property tax, insurance and PMI use the estimates in the fields above, which you can change, and are not a quote. Does not include HOA dues, special assessments or closing costs.
Talk With an Agent
Loan Programs

The Right Structure for Your Situation

Here are common loan programs for Los Angeles buyers. Each differs in cost, flexibility, and qualification, and your lender decides which apply to you.

Most Common
Conventional
A loan that is not backed by a government agency. Terms vary by lender. Ask your lender about down payment, credit and mortgage insurance for your situation.
Min. Down PaymentVaries by lender
Credit ScoreVaries by lender
PMI RequiredUsually under 20% down
FHA Insured
FHA Loan
A loan insured by the Federal Housing Administration, with its own down payment, credit and mortgage insurance rules. Ask your lender how it compares with other options for your situation.
Min. Down PaymentAs low as 3.5%
Credit Score580+ for 3.5%
MIP RequiredYes, length varies
VA Backed
VA Loan
A loan backed by the U.S. Department of Veterans Affairs for eligible veterans, active duty service members and eligible surviving spouses. The VA sets eligibility. Ask your lender about down payment, funding fee and rate terms.
Min. Down PaymentOften none
Credit ScoreVaries
Mortgage InsuranceNo monthly PMI
Luxury
Jumbo Loan
For loan amounts above the conforming loan limit (up to $1,249,125 in high-cost areas for 2026; ask your lender for the Los Angeles County limit). Lenders set their own credit, down payment and reserve requirements.
Min. Down PaymentVaries by lender
Credit ScoreVaries by lender
Reserves RequiredVaries by lender
First-Time Buyer
Down Payment Assistance
California offers several DPA programs including CalHFA, GSFA, and local city programs. These can provide grants or deferred second loans to cover part of your down payment.
Assistance AmountVaries by program
EligibilityIncome limits apply
TypeGrant or deferred loan
Flexible
ARM (Adjustable Rate)
Often starts at a lower rate that can change after a fixed period (5, 7, or 10 years). Ask your lender about adjustment limits and how your payment could change.
Fixed Period5, 7, or 10 years
Initial RateOften lower than fixed
Rate ChangesAfter the fixed period

Sources: HUD and the CFPB (FHA), VA.gov (VA loans), and FHFA (2026 conforming loan limit, announced November 25, 2025). General guidelines as of October 2026, shown as estimates only and not an offer of credit. Requirements change and vary by lender, so ask your lender what applies to you.

Common Questions

Financing FAQ

How much do I need for a down payment?+

It depends on the loan program and your lender. For example, at a $1,100,000 price, 20% down is $220,000. Ask your lender which programs allow a lower down payment and what each one requires. We can share names of lenders our clients have worked with, and the choice of lender is always yours.

What credit score do I need to buy a home?+

Minimum credit scores vary by loan program and by lender. Your score also affects your interest rate. Ask your lender how your score applies to the programs you are considering and what steps it suggests.

What's the difference between pre-qualification and pre-approval?+

Pre-qualification is an informal estimate based on self-reported financial information. Pre-approval is a formal process where a lender verifies your income, assets, credit, and employment to issue a conditional commitment letter. In a competitive market, sellers take pre-approval letters seriously; a pre-qualification won't cut it in a multiple-offer situation.

Should I get a fixed-rate or adjustable-rate mortgage?+

A fixed rate keeps your rate and payment steady for the life of the loan. An ARM starts at a lower rate that can change after the fixed period. Ask your lender to show both with your numbers and to explain the adjustment limits.

What are closing costs and how much should I expect?+

Closing costs vary by lender, loan, and property. They can include lender fees, title insurance, escrow fees, appraisal, and recording fees. Your lender provides a Loan Estimate with your numbers. In some cases, we can negotiate for the seller to cover a portion of closing costs as part of the offer terms.

Do you recommend specific lenders?+

We can share names of lenders our clients have worked with, but the choice of lender is always yours. We encourage every buyer to compare at least 2 to 3 lenders, since rates and terms vary.

Our Guidance

How Empower Helps You Get Financed

01
Financial Review
We talk through your budget and goals so you can ask your lender informed questions.
02
Lender Introductions
We can share names of lenders our clients have worked with. You choose your lender, and we encourage you to compare.
03
Pre-Approval Strategy
We explain what a pre-approval letter shows and how sellers read it, so you know what to ask your lender for.
04
Closing Coordination
We follow up with your lender during escrow and track each deadline with you.
Get Started

Questions About Financing?

Talking with us is free and carries no obligation. We can share names of lenders our clients have worked with, and the choice of lender is always yours.

Start the Conversation

Or call us directly: (818) 848-3637