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Home Affordability Calculator

Start from income, debt, and cash available to estimate a practical home price range.

Affordability vs. Mortgage Payment

Use this calculator when:

You know your income, debts, cash, and target DTI limits, but do not yet know what home price is realistic.

Use the mortgage calculator when:

You already have a home price and want payment, taxes, insurance, PMI, payoff timing, and amortization details.

Income, Debt & Cash

Set the household budget and the cash you want to keep available after closing.

Gross yearly income before taxes, including all borrowers.

$

Student loans, auto loans, credit cards, and other recurring debt.

$

Cash available for down payment, closing costs, and reserves.

$

Cash to keep after closing, excluded from down payment.

$
%
%

Loan & Ownership Costs

Add mortgage terms and monthly ownership cost assumptions.

%
years
%
$
/year
%/year
$
/mo

Estimated as a percentage of the home price.

%

Your Affordability Estimate

Maximum price, monthly housing payment, and cash-to-close context.

--
Max Home Price
Based on selected DTI limits
--
Monthly Housing
P&I, tax, insurance, PMI, HOA
--
Loan Amount
Estimated mortgage principal
--
Down Payment
Cash after closing costs

Budget Limits

Max housing budget
--
Limiting factor
--
Front-end DTI used
--
Back-end DTI used
--

Cash & Monthly Cost Breakdown

Cash to close
--
Cash remaining
--
Principal & interest
--
Property tax
--
Insurance
--
PMI
--
HOA
--

Affordability Check

Enter income, debt, cash, and loan assumptions to estimate an affordable home price.

How Home Affordability Math Works

This is a planning estimate built around DTI, cash to close, and recurring housing costs.

Start with income and debt

Monthly income is converted into front-end and back-end DTI budgets. Existing monthly debt reduces the back-end budget available for housing.

Search for the highest fitting price

The calculator tests home prices until the monthly housing payment and cash-to-close assumptions both fit the inputs.

Layer in ownership costs

Principal, interest, property tax, homeowners insurance, PMI, HOA dues, closing costs, and reserved cash are all included in the estimate.

This estimate does not include utilities, maintenance, moving costs, lender overlays, credit-score pricing, local assistance programs, adjustable-rate changes, or tax effects.

Affordability Decision Guide

A comfortable home price is usually below the maximum a lender might approve.

Budget vs. Approval

A lender may approve a higher amount than you want to operate with. Keep reserves, maintenance, utilities, and income volatility outside this calculation.

Cash Tradeoffs

More cash can raise affordability by lowering the loan and PMI, but using every dollar at closing can leave the household fragile after move-in.

Rate Sensitivity

Small rate changes can move the affordable price materially. Re-test affordability whenever the quoted rate, taxes, or insurance estimate changes.

Home Affordability FAQ

Common questions before turning a home budget into a purchase target.

How is this different from the mortgage calculator?

The mortgage calculator starts with a home price and estimates the payment. This affordability calculator starts with income, debt, and cash available, then estimates a maximum home price that fits the selected DTI limits and housing-cost assumptions.

What DTI ratios should I use?

A common planning baseline is 28% front-end DTI for housing costs and 36% back-end DTI for housing plus other monthly debt. Lender limits can vary by loan type, credit profile, reserves, and underwriting rules.

Does this replace a lender preapproval?

No. This is a planning estimate. A lender preapproval can include credit score, income documentation, assets, local taxes, insurance quotes, loan program rules, and exact closing-cost assumptions.