Home Affordability Calculator – How Much House Can I Afford?

Home Affordability Parameters

Annual Gross Income ($)

Household income before taxes and deductions.

Monthly Debt Payments ($)

Include recurring car, student loan, credit card, and other debt payments.

Down Payment ($)

Interest Rate (%)

Loan Term

Property Tax (% / year)

Home Insurance ($ / year)

HOA Fees ($ / month)

PMI Rate (% / year)

Applied when estimated down payment is below 20%.

Target Total DTI (%)

Planning assumption; lender requirements vary.

Estimated Home Affordability

Estimated Affordable Home Price
$0.00

Estimated Loan Amount

$0.00

Monthly Housing Payment

$0.00

Available Housing Budget

$0.00

■ Principal & Interest: 0% ■ Taxes: 0% ■ Insurance & PMI: 0% ■ HOA: 0%

Estimated DTI: 0.0% | Monthly Debt + Housing: $0.00

This estimate uses the assumptions entered above. Actual mortgage qualification and affordability can vary based on lender requirements, loan type, credit profile, property costs, taxes, insurance, and other financial factors.

Interest Rate Scenario Comparison

Scenario	Interest Rate	Affordable Home Price	Loan Amount	Monthly P&I

Scenario estimates keep your income, debts, down payment, property tax, insurance, HOA, PMI rate, and target DTI assumptions unchanged.

Frequently Asked Questions

How much house can I afford?

The amount of home you can afford depends on your income, existing debt, down payment, mortgage rate, loan term, property taxes, insurance, HOA fees, mortgage insurance, and other household expenses. Use the calculator above to estimate a home price based on the assumptions you provide.

How does income affect home affordability?

Higher gross income can support a larger monthly debt and housing budget under the same DTI assumption. Existing debts and other housing costs still affect the amount available for a mortgage.

Does a larger down payment increase home affordability?

A larger down payment reduces the amount that needs to be financed. Depending on the circumstances, it can reduce the monthly mortgage payment and may also reduce or eliminate mortgage insurance.

What is a good DTI for a mortgage?

DTI requirements vary by lender and loan program. The DTI field in this calculator is a planning assumption rather than a universal mortgage approval limit. A lower DTI generally leaves more of your gross income available for other financial obligations and expenses.

Does this calculator guarantee mortgage approval?

No. This calculator provides an estimate for budgeting and educational purposes. Mortgage approval depends on the lender, loan program, borrower information, property, credit history, documentation, and underwriting requirements.