Home Affordability Calculator
Use debt-to-income guardrails, down payment options, and realistic monthly costs to determine how much house you can afford.
Key Features
- DTI Ratio Analysis - Front-end (housing) and back-end (total debt) ratios to ensure you stay within safe lending limits
- Down Payment Scenarios - Compare 3%, 5%, 10%, and 20% down payment options and see PMI impact
- Complete Monthly Costs - Includes principal, interest, property taxes, homeowners insurance, PMI, and HOA fees
- Custom Interest Rates - Adjust mortgage rates to match current market conditions or your expected rate
- Debt Obligations - Factor in student loans, car payments, credit cards, and other monthly debts
How It Works
The calculator uses your gross monthly income and existing debts to calculate safe housing budgets. Lenders typically require:
- Front-end DTI ≤ 28% - Housing costs should not exceed 28% of gross income
- Back-end DTI ≤ 43% - Total debt payments should not exceed 43% of gross income
Results show your maximum affordable home price, monthly payment breakdown, and whether you'll need PMI based on your down payment.
Why Use This Calculator?
Buying a home is one of the biggest financial decisions you'll make. This calculator helps you:
- Set a realistic budget before house hunting
- Understand how different down payments affect affordability
- See the impact of PMI on your monthly costs
- Compare DTI scenarios to stay within safe lending limits
- Plan for all monthly costs, not just principal and interest