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How much home can you afford?

Affordability Calculator

Your Financials

Total income before taxes
Car loans, student loans, credit cards

Your Maximum Home Price

$0.00

Based on a recommended 36% Debt-to-Income ratio

Max Monthly Payment

$0.00

Loan Amount

$0

Disclaimer: Results received from this calculator are designed for comparative purposes only, and accuracy is not guaranteed. This calculator is made available to you as an educational tool only and calculations are based on borrower-input information. This is not an advertisement for the above terms, interest rates, or payment amounts. We do not guarantee the accuracy of any information or inputs by users of the software. This calculator does not have the ability to pre-qualify you for any loan program which should be verified independently with one of our Loan Consultants. Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Information such as interest rates and pricing are user input should not be perceived as a quote. Additional fees such as HOA dues are not included in calculations. All information such as interest rates, taxes, insurance, PMI payments, etc. are estimates and should be used for comparison only. We do not guarantee any of the information obtained by this calculator. To get an accurate rate and fee quote and to be prequalified or preapproved please use the contact form to request further assistance.

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Affordability FAQ

Everything you need to know

It is a standard lender guideline. It suggests that your mortgage payment shouldn't exceed 28% of your gross monthly income, and your total debt (including the mortgage) shouldn't exceed 36%.

Lenders use gross income (before taxes) to calculate your ratios. However, for your personal budget, it's wise to consider your "take-home" pay to ensure you're comfortable with the lifestyle changes.

Monthly debt obligations reduce the amount of "room" in your budget for a mortgage. Every $100 in monthly debt usually reduces your home buying power by roughly $10,000 to $15,000 depending on current rates.

Yes. A higher down payment reduces the loan amount, which lowers your monthly interest cost. It can also help you avoid Private Mortgage Insurance (PMI) if you reach the 20% mark.

Absolutely. Many loan programs, such as FHA loans, allow for a total DTI of up to 43% or even higher in some circumstances. This calculator uses a conservative 36% to show you a "safe" range.