Finance/Calculator

Home Affordability Calculator

Find out how much home you can afford based on your income, monthly debts, down payment, and local mortgage rates.

Your Financial Details

Annual Gross Income (A$)

Existing Monthly Debts (A$)

Down Payment Saved (A$)

Annual Interest Rate (%)

Loan Term

Max Affordable PriceA$341,575

Your Home Budget

12%down payment

Maximum Affordable Home Price

A$341,575

Max monthly payment: A$1,867/mo

Max Loan: A$301,575DTI: 35.5%

Annual IncomeA$80,000

Monthly IncomeA$6,667

Max Monthly Payment (28% rule)A$1,867

Existing Monthly DebtsA$500

Down PaymentA$40,000

Max Loan AmountA$301,575

Max Home PriceA$341,575

🇦🇺 Australia: FHOG varies by state ($10K–$30K). FHSS lets you save A$50K inside super for a first home.

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How It Works

The home affordability calculator uses two standard lending guidelines: the 28% front-end rule (housing costs should not exceed 28% of gross monthly income) and the 43% back-end DTI rule (total debt payments should not exceed 43%).

The calculator takes the lower of these two limits as your maximum monthly housing payment, then reverse-engineers the maximum loan amount from your interest rate and term.

Maximum home price = Maximum loan + Down payment. This is a conservative estimate — actual lender decisions also depend on credit score, employment history, and other factors.