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Affordability Calculator: How Much Home Can You Afford?

Find out the maximum home price you can comfortably afford based on your income, debts, down payment, loan assumptions, taxes, insurance, and debt-to-income limits.

Mortgage Affordability Calculator

Front-end DTI is binding

Income

Annual household income

Monthly non-housing debt payments Car loans, cards, student loans, etc.

Down payment Percentage of home price

Credit score

Loan assumptions

Loan term

Interest rate (APR %) Editable estimate

Housing costs & qualification rules

Property tax (monthly)

Homeowner's insurance

HOA fees

PMI / MI

Max front-end DTI (%)

Max back-end DTI (%)

ZIP Code

Target monthly budget

Estimated max home price

$0

Max housing payment

$0

Minimum of front-end and back-end limits

Estimated loan amount

$0

Price minus down payment

P&I portion

$0

Housing minus taxes, insurance, HOA, and PMI

Payment breakdown (at max) Housing payment at max: $0 / mo

What Is a Home Affordability Calculator?

A home affordability calculator estimates the maximum purchase price you can handle based on gross monthly income, existing debts, down payment, mortgage rate, property taxes, insurance, HOA fees, PMI, and debt-to-income limits.

Key Inputs That Determine Affordability

Gross Annual Income

Your household income before taxes is used to estimate borrowing capacity.

Monthly Debts

Car payments, student loans, cards, and other recurring obligations reduce affordability.

Down Payment

A larger down payment can increase buying power and reduce mortgage insurance.

Interest Rate

Even a small rate difference can materially change the maximum affordable price.

Property Tax & Insurance

These monthly costs reduce the amount available for principal and interest.

DTI Ratio

Lenders compare housing and total debts to gross monthly income.

How to Use Our Affordability Calculator

Enter Your Financial Details

Annual Income: Enter gross household income before taxes.
Monthly Debts: Include recurring obligations.
Down Payment: Enter the percentage available.
Interest Rate: Use today's rate or a pre-approval rate.
Loan Term: Choose 15 or 30 years.
Property Tax and Insurance: Enter monthly estimates.

The 28/36 Rule

A common guideline is to keep housing costs near 28% of gross monthly income and total debt near 36%. Different lenders and loan programs may allow different limits.

Max Housing Payment = Gross Monthly Income × 0.28

Tips for Maximizing Affordability

Pay down existing debt, improve your credit profile, compare rates, increase your down payment, and budget conservatively for maintenance, emergencies, and lifestyle expenses.