Find a realistic home price ceiling before you shop by working backward from your income and monthly obligations. Enter your gross monthly income, existing monthly debts, planned down payment, the interest rate and the loan term, and the calculator applies a debt to income limit to find the largest monthly housing payment lenders would likely allow. It reserves part of that payment for estimated taxes and insurance, then converts the remaining principal and interest budget into a loan amount using the standard amortization formula, and finally adds your down payment to reach an affordable purchase price. The default uses a thirty six percent total debt ratio, a common underwriting guideline. This is an estimate that excludes credit score and local costs, so treat it as a starting range. All math runs instantly in your browser and nothing is sent to a server.
It uses your income, monthly debts, down payment, and interest rate to estimate an affordable home price.
Existing debt payments reduce the income available for a mortgage, lowering the home price you can afford.
Yes. A larger down payment reduces the loan needed, which can raise the total home price you can afford.
Find a realistic home price ceiling before you shop by working backward from your income and monthly obligations. Enter your gross monthly income, existing monthly debts, planned down payment, the interest rate and the loan term, and the calculator applies a debt to income limit to find the largest monthly housing payment lenders would likely allow.
Yes. Home Affordability Calculator is completely free, with no sign-up and no usage limits.
Yes. Home Affordability Calculator runs in any modern web browser. There is nothing to download or install.
Yes. Home Affordability Calculator runs entirely on your device in your browser, so nothing you enter is uploaded to a server.