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Affordability Calculator

See an estimated max home price based on your income, debts, and down payment.

Advanced fields use sensible defaults in the math.

National average benchmark, not a quote.

A home worth $230,727 is within your budget.

Your debt to income ratio: 43.00%

Suggested Max $230,727
26%43%

Mortgage Payment Breakdown

$1,829per month
Total Monthly Payment$1,829
Principal & Interest72.7%$1,329
Property Taxes22.8%$417
Homeowner's Insurance4.6%$83

Total Funds Needed

$26,922up front
Total Funds Needed$26,922
Down Payment74.3%$20,000
Closing Costs25.7%$6,922
Closing Costs$6,922 (3.00%)
Affordable home price by debt-to-income band
RangeDTILowHigh
Below0 - 26%$0$84,737
Within26 - 43%$84,737$230,727
Over43 - 100%$230,727No limit

Home

Home Price$230,727
Interest Rate6.480%
APR6.480%
Length of Loan30 yrs
Down Payment$20,000 (8.7%)
Closing Costs$6,922 (3.00%)

Personal

Annual Income$65,000
Monthly Obligations$500
Current DTI43.00%
DTI Tolerance Range0 - 43%
What do these numbers mean?
Annual Income
Your gross yearly income before taxes, including reliable commission or overtime.
Interest Rate
The annual mortgage rate. The default is a national benchmark, not a quote.
Length of Loan
How many years you'll repay the loan, often 15 or 30.
Down Payment
Cash you put down up front. A larger down payment lowers the loan and can drop mortgage insurance.
Monthly Obligations
Recurring monthly debt: car loans, student loans, and credit card minimums.
Property Tax
Estimated yearly property tax for the home.
Homeowner's Insurance
Estimated yearly homeowner's insurance premium.
DTI Tolerance
The share of monthly income that can go to total debt. Default 43%; some loans allow up to about 55%.
Mortgage Insurance
Added when the down payment is under 20% of the home price. Enter an annual rate of the loan amount.
Maintenance / HOA
Monthly upkeep or HOA dues you want counted in the budget.

Results are estimates for informational purposes only and are not a lending commitment, quote, or approval. APR shown assumes $0 fees. Your actual numbers depend on your loan, credit, property, and other factors.

How much house can I afford?

A simple way to estimate it is to take a share of your monthly income for housing, subtract your other debt payments, and see what's left for a mortgage payment. This tool does that math and then estimates the home price that fits, including room for taxes and insurance. Your comfortable number may be lower than your max.

Why does my debt-to-income ratio matter?

Your debt-to-income ratio compares your monthly debt payments to your income, and lenders use it to gauge how much new payment you can handle. Many programs allow somewhere around 43% to 50%, but a lower ratio usually means a more comfortable budget. Lowering existing debts can raise the price you can reach.

Common questions

It takes your income, monthly debts, and down payment, then uses a target debt-to-income ratio to estimate a comfortable housing budget. From that budget it backs into an estimated max home price, after setting aside room for taxes and insurance. It's a planning estimate, not a pre-approval.

Qualifying is what a lender may approve based on guidelines. Affording is what fits your life once you factor in savings, goals, and breathing room. They're often different numbers. I usually suggest buying a bit under your max so a surprise expense doesn't turn your home into a source of stress.

Often yes. A larger down payment lowers your loan amount, which lowers your monthly payment and can raise the price you can comfortably reach. It may also help you avoid mortgage insurance. The trade-off is using more cash up front, so it's about balancing payment comfort with keeping savings.

Last updated: June 5, 2026

This calculator is for educational estimates only. It isn't an offer to lend, a quote, or a commitment to make a loan. Your actual numbers depend on your loan, credit, property, and other factors. Rates and programs may change without notice.

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