🏡

Home Affordability Calculator

Inputs

Your total yearly income before taxes

Car loans, credit cards, student loans, etc. excluding mortgage

Cash you have for down payment

Current or expected interest rate

Number of years for mortgage

Lender limit (typically 43% for qualified mortgages)

Annual property tax as percentage of home value

Estimated yearly home insurance cost

Homeowners association fees if applicable

Results

Maximum Affordable Home Price
The maximum home price you can afford based on lending guidelines
Maximum Loan Amount
Estimated Monthly Payment
Your Debt-to-Income Ratio
Limiting Factor
Formula
Max Home Price = MIN(DTI-Based Price, Down Payment Price) where DTI-Based Price = (Monthly Income * DTI Ratio - Monthly Debts - Monthly Taxes/Insurance/HOA) / Monthly Rate Factor, and Down Payment Price = Down Payment / (1 - LTV)
Powered by CalcStudio Pro