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 ($)

Existing Monthly Debts ($)

Down Payment Saved ($)

Annual Interest Rate (%)

Loan Term

Max Affordable Price$326,331

Your Home Budget

12%down payment

Maximum Affordable Home Price

$326,331

Max monthly payment: $1,867/mo

Max Loan: $286,331DTI: 35.5%

Annual Income$80,000

Monthly Income$6,667

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

Existing Monthly Debts$500

Down Payment$40,000

Max Loan Amount$286,331

Max Home Price$326,331

🇺🇸 United States: 20% down payment avoids Private Mortgage Insurance (PMI). FHA loans allow as low as 3.5%.

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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.