Home Affordability Calculator
Determine how much house you can afford based on your income, expenses, and down payment. Calculate your maximum home price and monthly payment within your budget.
Home Affordability Results
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About
Our Home Affordability Calculator helps you determine the maximum home price you can afford based on your income, debts, and financial situation, ensuring responsible homeownership.
Why Choose
Accurate calculations following industry standards, comprehensive analysis including taxes and insurance, and instant results to guide your home buying decisions.
Features
Calculate maximum home price and monthly payments, detailed payment breakdown, debt-to-income ratio analysis, and mobile-responsive design for convenience.
Benefits
Make informed home buying decisions, avoid overextending financially, understand total housing costs, and plan your budget effectively for homeownership.
Enter Details
Input your annual income, monthly debts, down payment, interest rate, and other housing costs like taxes and insurance.
Calculate
Click calculate to determine your maximum affordable home price and monthly payment using standard lending guidelines.
Review Results
Analyze detailed results including payment breakdown, debt-to-income ratio, and recommendations for your home search.
Frequently Asked Questions – Home Affordability Calculator
The 28/36 rule suggests that housing costs shouldn’t exceed 28% of gross monthly income, and total debt payments shouldn’t exceed 36% of gross monthly income. This helps ensure affordable homeownership.
Total housing costs include principal and interest payments, property taxes, homeowners insurance, HOA fees, and mortgage insurance (if applicable). This is often called PITI+HOA.
Down payments typically range from 3% to 20% of the home price. While 20% avoids mortgage insurance, many programs allow lower down payments for qualified buyers.
Key factors include your income, existing debts, credit score, down payment amount, interest rates, property taxes, insurance costs, and local market conditions.
Not necessarily. Consider your lifestyle, future financial goals, emergency fund, and unexpected expenses. It’s often wise to buy below your maximum to maintain financial flexibility.