You found your dream-home -- now you try to see if you can afford it.

Most people do just that... They go out looking at homes, find just the right one, and then try to fit the loan payments into their budget.

Smart home-buyers first find out how much they can afford and then find a home that fits their budget.

You will save time and heartache by being a smart buyer. Even if you are an experienced buyer, knowing what you can afford puts you in charge of your home buying venture.

Use this calculator to quickly find out just how much you can afford!

To begin, enter your combined annual income. This includes your income, your spouse's income, annuities, stock dividends, and any other income you may be receiving.

Annual property taxes vary from location to location, but you can generally figure on paying about 1.75% to 2.5% of the home's value. And homeowner's insurance could be anywhere from $250 to $500 a year.

If you put less than 20% down, you can expect to pay PMI. To determine your annual PMI, use the PMI calculator.

Enter the rest of the information and then click the Calculate button to see how much home you can afford!

To create an amortization schedule, click the Amortize button.

As always, the results of the calculations are close estimates. Talk to your lending institution and insurance company before making a final decision.