Home Affordability Calculator

Calculate the maximum home price you can afford based on income, debts, and DTI limits.

Max Home Price

$271,495

Max Monthly Payment

$1,400

Loan Amount

$221,495

What Is the Home Affordability Calculator?

Find out how much house you can afford based on your income, debts, down payment, and interest rate. See a full monthly payment breakdown with taxes, insurance, and PMI.

How to Use

Using the home affordability calculator is simple:

  • Enter your values in the input fields
  • Click the calculate button
  • View your results instantly

Tips

  • Double-check your inputs for accurate results
  • This tool provides estimates - consult a professional for important decisions
  • Save your results for future reference

Frequently Asked Questions

How is home affordability calculated?+
Lenders use the 28/36 rule: housing costs should not exceed 28% of monthly income, and total debt should not exceed 36%. Affordability also depends on your down payment, interest rate, property taxes, and insurance.
How much should I put down?+
Conventional loans require 20% to avoid PMI, but many buyers put down 3-5% (3.5% for FHA loans). A lower down payment means a higher monthly payment and PMI if below 20%.
How much house can I afford?+
Rough rule of thumb: a house priced at about 2.5-3 times your annual income. Earning $80,000, aim for a price of $200,000-$240,000. But actual affordability depends on your debt, down payment, and current interest rates.
What are the hidden costs?+
Property taxes (1-3% of home value per year), homeowners insurance ($1,000-$3,000 per year), maintenance (1-2% per year), HOA fees (if applicable), and closing costs (2-5% of the purchase price).

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Mortgage CalculatorMortgage Affordability CalculatorDown Payment CalculatorDebt to Income Calculator

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