The “Home Buyer Compass” app lets you find out the true home value you can afford based on your monthly cash flow of take-home pay and all living expenses (including but not limited to monthly debt)
This calculator is different from other home affordability calculators in the market today. Other calculators compute the home value you may be able to get qualified for by the lender based on your gross monthly income and total monthly debt. However, your monthly debt may be small but you may have other large expenses such as medical and travel expenses. Alternatively, your gross income may be high but your take-home pay may be small due to maximizing on 401k contributions. In these cases, the home value you can truly afford may be very different from what the lenders qualify you.
This calculator also provides you with the home value that the lender may qualify you for. So you can compare what the lender may qualify you for and what you can truly afford.
You can download Home Buyer Compass from Apple Store.