How do I know if I can afford a house?

Start with the Affordability Calculator to estimate a realistic price range based on your income, debts, and down payment. Then use the DTI (debt-to-income) Calculator to check whether a lender would approve you — most require a DTI ratio below 43%. Finally, the Mortgage Calculator shows the exact monthly payment for a specific home price, so you can see if it fits your budget.

Is it better to rent or buy?

It depends on how long you plan to stay, local home prices vs. rents, mortgage rates, and what you would do with your down payment money if you rented instead. The Rent vs Buy Calculator compares the total cost of each option over your expected time horizon, accounting for home appreciation, investment returns on savings, closing costs, and maintenance. In expensive markets or with short timelines, renting and investing the difference often wins.

When does refinancing make sense?

Refinancing makes sense when the interest savings exceed the closing costs before you sell or pay off the home. The Refinance Calculator shows your break-even month — the point where cumulative savings from the lower payment surpass the upfront closing costs. If you plan to keep the loan past that break-even point, refinancing saves money. A common guideline is that a rate reduction of at least 0.5% to 1% is worth exploring.

Mortgage Calculators Compared — Which Do You Need?

VaporCalc has seven calculators that deal with housing and mortgages. Each answers a different question. This guide helps you pick the right starting point — and shows how to combine them when your situation spans more than one question.

The Housing Calculators at a Glance

Comparison of housing and mortgage calculators with their best use cases
Calculator	Best For
Mortgage Calculator	"What's my monthly payment?" · "How much interest will I pay?" · "What do extra payments save?"
How Much House Can I Afford?	"What price range should I be shopping in?"
DTI Calculator	"Will I qualify for a mortgage?" — checks your debt-to-income (DTI) ratio
Rent vs Buy	"Is it cheaper to rent or buy in my situation?"
Mortgage vs Invest	"Should I make extra mortgage payments or invest that money?"
Refinance Calculator	"Is refinancing worth the closing costs?"
Savings Goal Calculator	"How long until I save enough for a down payment?"

Which Calculator Do I Start With?

Find the statement that matches your situation, then follow the path.

1. "I'm thinking about buying a home"

Start with the Affordability Calculator — what price range can you realistically handle?
Check the DTI Calculator — will a lender approve you at that price?
Run Rent vs Buy — does buying actually make financial sense compared to renting where you live?

Deep dive: Learn: Buying a Home

2. "I found a house and need to know the payment"

Open the Mortgage Calculator — enter the price, your down payment, the interest rate, and loan term.
Check the amortization schedule to see how each payment splits between interest and principal.
Try adding extra monthly payments to see how much time and interest you could save.

3. "I already own — should I pay extra on the mortgage or invest?"

Use the Mortgage vs Invest Calculator — it compares your net worth under both strategies.
The answer depends on your mortgage rate vs. your expected investment return, and your tax bracket.

Deep dive: Learn: Mortgage Payoff vs Invest

4. "Should I refinance?"

Open the Refinance Calculator — enter your current loan details, the new rate, and closing costs.
The key number is the break-even month. If you plan to keep the loan past that point, refinancing saves money.

Deep dive: Learn: Refinancing

5. "I'm saving for a down payment"

Use the Savings Goal Calculator — set your target amount and deadline to find the monthly savings needed.
Combine with the Affordability Calculator to figure out the right down payment target for your income.

Dana Is Shopping for a Home in Portland

Dana earns $6,500/month gross and has $400/month in student loan payments. She's been pre-approved for $380,000 but isn't sure that's a good idea.

Affordability Calculator: With her income, debts, and a 10% down payment, the calculator suggests a comfortable range of $300,000–$330,000 — well below the pre-approval.
DTI Calculator: At $380,000, her DTI ratio would be 41% — technically under the 43% cap, but uncomfortably high. At $320,000 it drops to 34%.
Rent vs Buy: Dana plans to stay at least 5 years. At $320,000, buying beats renting after year 3 given Portland's market conditions.
Mortgage Calculator: A $320,000 home with 10% down at 6.5% means a monthly payment of about $2,030 including taxes and insurance — leaving room in her budget.

Dana decides to shop in the $300,000–$330,000 range rather than stretching to her pre-approval limit.

Common Calculator Combos

Still Not Sure?

These learning articles walk through the decisions in depth:

Buying a Home — costs, affordability rules, rent vs. buy math
Mortgage Payoff vs Invest — when to pay extra, when to invest
Refinancing — break-even analysis, when it makes sense