Home Affordability Calculator
See the home price you can afford, based on your income, monthly debts, down payment and the debt-to-income limits lenders use.
- Free
- No sign-up
Enter your income and details to see what you can afford.
Worked example
With these example inputs:
- Annual income$120,000
- Other monthly debts$500
- Down payment$60,000
- Interest rate6.5%
- Loan term30 yr
- Max debt-to-income36%
- Property tax rate1.1%
- Home insurance$1,500
Home price you can afford: $422,011
- Loan amount$362,011
- Max monthly payment$2,800
- Principal & interest$2,288
Frequently asked questions
How is affordability decided?
Lenders cap your monthly housing payment using debt-to-income ratios, often around 28% of gross income for housing and 36% for all debt. This tool uses the lower limit and backs out the price it supports.
Should I borrow the maximum?
Not necessarily. The maximum is what a lender may allow, not what is comfortable. Leaving room for savings, maintenance and emergencies is usually wise.
What is the debt-to-income ratio?
It compares your monthly debt to your income, and lenders use it to cap what you can borrow.
How does my down payment affect affordability?
A larger down payment raises the price you can reach and lowers the monthly cost.
What costs beyond the mortgage should I plan for?
Property tax, insurance, maintenance and any HOA fees all add to the monthly total.