Finance category
Mortgage, loan, investing, tax, and money calculators.
Home Affordability Calculator
Estimate how much house you can afford based on income, debts, rate, and down payment with a free calculator.
Estimated home price
$405,980
Estimated loan amount
$345,980
Monthly housing budget
$2,800
What this estimate means
This estimate leaves room for about $2,244 per month in principal and interest after taxes, insurance, and HOA costs.
Use it as a planning number, then compare it with lender pre-approval and local property tax reality.
How to Use
- Enter your gross annual income and current monthly debt obligations.
- Add the expected mortgage rate, loan term, and down payment.
- Include property tax, insurance, and HOA assumptions.
- Review the estimated purchase price range that fits the debt-to-income limits.
Frequently Asked Questions
What does home affordability mean?
Home affordability is the purchase price and payment level your income can reasonably support after considering debts and housing costs.
Why include taxes and insurance?
Lenders usually care about total housing cost, not just principal and interest, so property taxes and insurance matter.
What are front-end and back-end DTI ratios?
Front-end DTI measures housing cost versus income. Back-end DTI also includes other debt payments such as car loans and credit cards.
Is this a lender approval?
No. It is a planning estimate. Lenders may underwrite using different credit, reserve, and documentation standards.
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