How Much House Can You Afford?

Lenders typically count W-2 wages, salary, and self-employment income documented on 2 years of tax returns. Bonuses and overtime income can be included if they're consistent and documented. Part-time or freelance income counts when you can show a 2-year history. Alimony and child support can be counted if received for at least 6 months and set to continue. Earnest will walk through your specific income sources to make sure nothing is left on the table.

Absolutely. Your credit score affects your interest rate — and your rate directly impacts your monthly payment. A lower rate means more buying power within the same DTI limits. For example, dropping your rate from 7.5% to 6.5% on a $200K loan saves about $130/month. It also determines which loan programs you qualify for: FHA requires a minimum 580, conventional typically 620–640, and the best conventional rates usually kick in around 740+. Earnest can show you exactly what your score unlocks before you apply.

The max home price is your DTI ceiling — what you technically qualify for on paper. The comfortable target (shown at ~80% of max) is what most financial advisors recommend actually spending. Buying at your max leaves no financial cushion for repairs, emergencies, or lifestyle flexibility. Earnest will always show you both numbers so you shop smart, not just "approved."

It depends on the loan type. Conventional loans start at 3% down (but require PMI below 20%). FHA loans require 3.5% with a 580+ credit score. VA loans require 0% down for eligible veterans and active duty service members. USDA loans also offer 0% down for eligible rural/suburban areas — and parts of the OKC metro qualify. Oklahoma down payment assistance programs can cover 3–5% for qualifying buyers. The "right" down payment isn't always the largest one — Earnest will show you all the options and their trade-offs.

Both — but for different purposes. Use this calculator first to set realistic expectations and understand the math before any conversations. Then talk to Earnest for your actual pre-approval, which factors in your credit, documents, and the specific loan programs you qualify for. A lot of buyers are surprised — sometimes pleasantly — when they see what their full picture looks like on paper versus a calculator. Either way, knowing the math first makes every conversation more productive.