Home Affordability Calculator
Calculate how much house you can afford based on your income, debts, and down payment. Find your ideal home price range with our mortgage affordability calculator and debt-to-income ratio analysis.
Your Financial Profile
$85,000 per year
$500/month (car loans, student loans, credit cards)
$60,000
740 - Good (+0.25% rate impact)
Loan Assumptions
Adjusted rate with your credit: 6.75%
You Can Afford
Estimated home price
Monthly Payment
$1983
Loan Amount
$251,028
Debt-to-Income Analysis
✓ Within recommended 36% limit
DTI Ratio Guide
• Below 28%: Conservative, excellent approval odds
• 28-36%: Comfortable, good approval odds
• Above 36%: Aggressive, may need stronger credit
Affordability Scenarios
Conservative (28% DTI)
$1686/mo
$264,374
Comfort: 95%
Comfortable
$1983/mo
$311,028
Comfort: 75%
Aggressive (36% DTI)
$2281/mo
$357,682
Comfort: 50%
Affordability Factors
This radar chart shows the key factors affecting your home affordability. Larger area means better positioning.
A home affordability calculator determines how much house you can afford based on your income, debts, down payment, and current interest rates. It uses standard lending guidelines to estimate a realistic price range that fits your budget.
Formula:
Max Home Price = (Monthly Income × 0.28) / Monthly Payment FactorLenders typically require housing costs to be no more than 28% of gross monthly income (front-end ratio).
- 1
Enter your annual household income
- 2
Input your monthly debt payments (car, student loans, etc.)
- 3
Enter your planned down payment
- 4
Set the current mortgage interest rate
- 5
Add estimates for property taxes and insurance
- 6
View your maximum affordable home price
- Prevents overextending financially on housing
- Gives realistic expectations before house hunting
- Helps you prepare the right down payment
- Accounts for all housing costs, not just mortgage
- Different from what you qualify for vs what you should spend
- Starting your home search
- Determining savings goal for down payment
- Deciding between renting and buying
- Evaluating impact of interest rate changes
- Planning for home upgrades
- Comparing different markets
- •Get pre-approved before serious house hunting
- •Consider total cost of ownership, not just purchase price
- •A smaller home in a better location often appreciates more
- •Don't forget closing costs (2-5% of purchase price)
Have questions about using this calculator? Check out our financial guides or contact us for help.
By submitting your email, you agree to our Privacy Policy, including that we store your email and results and may share them with advertising partners.