Home Affordability Calculator
Find a price range that fits your income and existing monthly obligations.
What This Calculator Does
Weighs your income, current monthly debt payments, and available down payment against standard debt-to-income guidelines to return a realistic home price range.
Who Is This For
First-time buyers setting a budget, anyone comparing what they qualify for against what they want to spend, and buyers refining a search range before touring homes.
How It Works
Enter your annual income, existing monthly debt payments, available down payment, expected interest rate, and loan term, then set the property tax rate, monthly insurance, and association dues for the property you are considering, to see the resulting maximum home price.
Frequently Asked Questions
What debt-to-income ratio do lenders typically use?
Many lenders look for a total debt-to-income ratio at or below roughly 43%, with the housing portion alone often targeted in the high-20s to low-30s percent range.
Does this include property taxes and insurance?
The estimate covers the full housing payment: principal and interest plus property tax at the rate you enter, insurance, and association dues, along with mortgage insurance when the down payment is below the lender's threshold. Set those fields to match the property you have in mind, since they vary by location and property type.
How does my credit score affect what I can afford?
A stronger credit profile typically qualifies for a lower interest rate, and a lower rate increases the loan amount the same monthly payment can support.
Should I spend up to my maximum affordability?
Buying at the very top of your range leaves less room for maintenance, insurance changes, and other expenses; many buyers target a price somewhat below their calculated ceiling.