House Affordability Calculator
Find out how much house you can afford based on your income, debts, and down payment.
Your Finances
Enter your income, debts, and down payment to see how much house you can afford and compare conservative, moderate, and aggressive scenarios.
You Can Afford a Home Up To
$0
Monthly payment: $0
Loan Amount
$0
Down Payment
$0
Front-End DTI
0%
Back-End DTI
0%
Monthly Payment Breakdown
Payment Details
Affordability Scenarios
| Scenario | Description | Home Price | Monthly |
|---|
Complete User Guide
What is House Affordability?
House affordability is the maximum home price you can afford based on your income, existing debts, down payment, and loan terms. Lenders use debt-to-income (DTI) ratios to ensure you can repay the loan. The 28/36 rule is common: no more than 28% of gross income on housing (front-end DTI) and no more than 36% on all debts combined (back-end DTI).
Front-End vs Back-End DTI
Front-End DTI (28% guideline)
Housing payment (P&I, taxes, insurance, PMI, HOA) ÷ gross monthly income. Lenders prefer this under 28%.
Back-End DTI (36% guideline)
All monthly debts (housing + car, student loans, credit cards, etc.) ÷ gross monthly income. Lenders prefer this under 36%.
How to Use This Calculator
- Enter your gross annual household income (before taxes).
- Enter total monthly debt payments (excluding rent).
- Enter the down payment you have available.
- Set interest rate, loan term, property tax %, insurance %, and HOA if applicable.
- Click Calculate to see your max affordable home price and monthly payment.
- Compare Conservative (25%), Moderate (28%), and Aggressive (32%) scenarios.
Understanding Your Results
Max Home Price
The highest home price that keeps your total housing payment within the 28/36 DTI limits based on your inputs.
Scenarios
Conservative uses 25% of income for housing; Moderate uses 28% (recommended); Aggressive uses 32% (higher risk).
Monthly Payment Breakdown Chart
The doughnut chart shows how your total monthly housing payment is split: Principal & Interest (P&I), property tax, insurance, PMI (if down payment < 20%), and HOA. Use it to see where your money goes each month.
Formulas Used
Max housing payment
min(28% × monthly income, 36% × monthly income − monthly debts)
Monthly P&I
P&I = Loan × [ r(1+r)^n ] / [ (1+r)^n − 1 ]
r = monthly rate, n = number of payments.
Important Notes
- This calculator is for estimation only. Lenders may use different DTI limits or include other factors.
- Property tax and insurance are estimates (as % of home value). Actual amounts vary by location and policy.
- Get pre-approved with a lender to know your actual budget and rate.
Home Buying Tips
- Get pre-approved before house hunting.
- Don't max out your budget; leave room for maintenance and emergencies.
- Pay down debt to improve DTI and qualify for better rates.
- Keep 3–6 months of expenses in reserves after closing.