Home Affordability Calculator
Calculate how much house you can afford based on income, debts, and down payment using the 28/36 rule
Calculate with Home Affordability Calculator
Results
You can afford a house up to $164,463 according to the Conventional (28/36 rule).
| You can borrow | $131,571 |
| Total price of the house | $164,463 |
| Down payment | $32,893 |
| Estimated closing cost (one time, assume 3%) | $4,934 |
| Front-end debt-to-income (DTI) ratio | 10.8% |
| Back-end debt-to-income (DTI) ratio | 10.8% |
| Total one-time payment at closing | $37,827 |
Monthly Cost on the House
| Monthly mortgage payment | $802 |
| Annual property tax | $2,467 |
| Annual HOA or co-op fee | $0 |
| Annual insurance cost | $822 |
| Estimated annual maintenance cost (repair, utility etc., assume 1.5%) | $2,467 |
| Total monthly cost on the house | $1,282 |
Budget Buffer Check
The affordability result targets qualification math. Keep room for maintenance, utilities, savings, and income changes before treating the maximum price as a comfortable budget.
DTI Analysis
Your DTI ratios are within the Conventional (28/36 rule) guideline assumptions.
Assumptions
Use Home Affordability Calculator for housing-cost and ownership planning when you need a clear estimate, transparent inputs, and a result you can review before taking the next step.
Worked example
When To Use Home Affordability Calculator
- Start with a representative scenario in Home Affordability Calculator so rates, dates, balances, or other key assumptions match the question you are comparing.
- Review whether the estimate matches the planning scenario before you use it for a budget, plan, or discussion.
Sample Input And Output Checks
- Start with inputs that match the real scenario, not only a rounded placeholder.
- Review home price, rent growth, closing costs, property tax, insurance, and time horizon before trusting the output.
- Confirm lender quotes, tax bills, HOA terms, and local market assumptions before using an estimate for a real housing decision.
About This Tool
This home affordability calculator estimates a maximum home price from income, existing monthly debts, down payment, mortgage term, property tax, insurance, HOA assumptions, and the DTI rule you choose. It is best used as a planning estimate before lender preapproval, not as a guarantee of approval.
DTI Rules Are Starting Points
Conventional, FHA, VA, and custom settings use different front-end and back-end debt-to-income assumptions. Lenders can apply overlays, compensating factors, reserve requirements, and program-specific rules. If your debts are high, the back-end ratio can reduce buying power even when income looks strong.
Use the Buffer Check
The buffer panel shows estimated gross monthly income, the housing limit from the selected DTI rule, and income left after housing and debts. A maximum qualifying price can still feel tight if it leaves little room for utilities, repairs, savings, or income changes.
Test Local Cost Assumptions
Property taxes, insurance, and HOA fees can change the result materially. Use local estimates from listings, county records, insurance quotes, and HOA disclosures rather than relying on broad averages when comparing specific homes.