Home Affordability Calculator

How this calculator works

Lenders commonly use two debt-to-income limits: housing costs (principal, interest, property tax, insurance and HOA) of no more than 28% of gross monthly income, and all monthly debt payments of no more than 36%. The lower of the two sets your maximum housing payment.

This calculator works backwards from that payment: it subtracts tax, insurance and HOA, then finds the largest loan your rate and term allow, and adds your down payment to get a price.

Treat the result as a ceiling, not a target. Lenders may allow higher ratios, and with less than 20% down you will usually pay private mortgage insurance, which reduces what you can afford.