One of the most important financial decisions that a person will ever make is to purchase their home. A home is typically the largest purchase a person makes in their lifetime and therefore, should not be made without a lot of preparation and consideration. Many people begin the process of looking for a house and get tied in emotionally to the process before they look at their finances. A careful analysis of their financial position could potentially save them emotional stress when they go to the bank and realize that they cannot afford the mortgage they were trying to apply for. When determining how much house a person can afford it is very important to use a mortgage payment calculator to test what a monthly payment would be. This is very easy to do, once a person has gathered the various data points that go into the calculator. First, the person will need to get a copy of their credit score to estimate what interest rate they will qualify for. The interest rate is one of the most important and influential factors in the mortgage decision process. A person with a low interest rate will be able to afford to purchase a much more expensive house because their monthly payment will be less. A person with the same income, but a higher interest rate, will only be able to afford a much less expensive house because their monthly payments will be much higher. Once the Scientific Calculators has their estimated interest rate then can begin to plug the data points into the mortgage payment calculator. The estimated interest rate should be entered, followed by the expected home purchase price. Once these two factors have been entered the mortgage calculator will generate the estimated monthly payments for a specified term, based on the purchase price and interest rate. Based on the initial values, a person can see if they can afford more of a house, or less of a house, based on the mortgage payments funds they have allocated in their budget. Once the person has decided on the amount of house they can afford, they will then begin to look at homes within their specific purchase range.Approaching a home purchase from this angle allows a person to narrow their home search, avoid the emotional stress of realizing that they cannot afford to buy a house they love, and to stick within their budget and avoid financial hardships.