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House Affordability Calculator

Find out how much house you can afford based on your income or budget

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15
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Cstm
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Conventional (28/36)
FHA (31/43)
VA (41%)
Custom

Our House Affordability Calculator shows your maximum realistic home price, estimated monthly payment, and a complete breakdown of costs. Factor in taxes, insurance, and HOA fees against standard DTI guidelines for a highly accurate picture of your true buying power.

How to Use This Calculator
1
Choose Your Mode - Select "Income-Based" to use your annual salary, or "Budget-Based" if you know your max payment.
2
Enter Financials - Input your income, expected interest rate, and total monthly debts (car loans, credit cards).
3
Set Down Payment - Enter your saved amount as either a fixed dollar figure or a percentage (e.g., 20%).
4
Add Hidden Costs - Input local property tax estimates, homeowners insurance, and HOA fees to calculate actual PITI.
5
Select DTI Ratio - Choose the standard 28/36 conventional rule, FHA (31/43), VA (41%), or set a custom ratio.
6
Click Calculate - Instantly see your maximum home price and monthly payment breakdown.
Frequently Asked Questions
The 28/36 rule is a standard guideline used by lenders. It states that your housing costs (front-end ratio) should not exceed 28% of your gross monthly income, and your total debt obligations including the mortgage (back-end ratio) should not exceed 36%.
A larger down payment increases your maximum purchase price because you borrow less from the bank. It also lowers your monthly principal and interest. Furthermore, putting down at least 20% eliminates the need for Private Mortgage Insurance (PMI), freeing up more of your budget.
Yes. Property taxes and homeowners insurance are mandatory components of your total mortgage payment (PITI). Lenders always factor these into your debt-to-income limits. Excluding them will artificially inflate the house price you think you can afford.
Conventional loans typically require stricter DTI ratios (like 28/36) and higher credit scores. FHA loans are government-backed and allow for higher debt ratios (up to 31/43) and lower down payments (as low as 3.5%), making them ideal for first-time buyers with less cash upfront.

Want to Understand Home Affordability in Depth?

Read our complete guide—covering DTI ratios, alternative loan types, and proven strategies to safely boost your buying power.

Read Full Guide
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