How can I use Rocket Mortgage's calculator to determine how much I can afford?

Using Rocket Mortgage's affordability calculator is straightforward. First, enter personal financial details, including income, monthly debts, and savings intended for a down payment. Next, the calculator might require an estimated credit score to gauge the loan terms one is likely to qualify for. Finally, input any desired location for localized results. The tool will then use this information to calculate an affordable home price range and estimate monthly payments, taking into account prevailing interest rates and other expenses related to homeownership, such as property taxes and insurance. It provides a clear picture of what one can afford based on the current financial situation before beginning the house-hunting process.