Financial Details
Your yearly income before taxes
Other monthly debt payments
Cash for down payment
Annual interest rate
Maximum Home Price
$$0
Monthly Payment Breakdown
Affordable Price Range
What is a Home Affordability Calculator?
A Home Affordability Calculator determines how much house you can afford based on your income, expenses, and down payment. It uses the 28% front-end debt-to-income ratio that lenders use to approve mortgages.
This calculator helps you set realistic expectations when house hunting and ensures you don't take on a mortgage that strains your budget.
Understanding Affordability Ratios
Housing costs only
All debt combined
Avoids PMI
Tips to Improve Affordability
Increase Down Payment
More down payment means lower loan and no PMI.
Reduce Debt
Pay off credit cards before applying.
Improve Credit Score
Better score = lower interest rates.
Consider Shorter Term
15-year mortgage = faster payoff.
Shop Lenders
Rates vary by lender significantly.
Get Pre-approved
Know exactly how much you can borrow.
Quick Reference
Front-end 28%
Housing to income ratio
Back-end 36%
All debt to income ratio
PMI
Required under 20% down
Property Tax
1-2% annually
HOA
Community fees
P&I
Principal & Interest