Home Affordability Calculator

Estimate how much house you can afford based on your income, debts, and down payment.

Income & Debts

$
$
$

Loan & Housing Costs

%
30 years
10yr15yr20yr25yr30yr
%
$
$

Estimated Home You Can Afford

$259,085

Loan: $219,085

35.5%back-end DTI
Safe (≤36%)
Moderate (36-43%)
High (>43%)
Principal & Interest$1,458/mo
Property Tax$259/mo
Insurance + HOA$150/mo
Total Housing Payment$1,867/mo
Max by 28% Rule$1,867/mo
Max by 36% Rule$1,900/mo

How to Use the Home Affordability Calculator

  1. Enter your annual gross income and existing monthly debt payments (car loans, student loans, credit cards).
  2. Enter your down payment - a larger down payment reduces the loan amount and monthly payment.
  3. Set the interest rate and loan term - current 30-year rates are around 6-7%. A 15-year loan has higher payments but less total interest.
  4. Add ongoing housing costs - property tax (varies by state, typically 0.5-2%), homeowners insurance, and HOA fees.

The calculator uses two debt-to-income (DTI) ratios and takes the more conservative result as your housing budget.

Frequently Asked Questions

The 28/36 rule is a mortgage lending guideline. Your monthly housing costs (PITI: principal, interest, taxes, insurance) should not exceed 28% of gross monthly income (front-end DTI). Your total monthly debt obligations (housing plus car payments, student loans, credit cards) should not exceed 36% (back-end DTI). On a $7,000 gross monthly income, 28% = $1,960 max housing, 36% = $2,520 max total debt. FHA loans allow up to 43% back-end DTI with compensating factors.

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