Home Affordability Calculator
Calculate how much house you can afford based on your income, debts, and interest rate. Get three scenarios showing your range from conservative to maximum affordability.
Results update automatically as you fill in each field. You'll see three affordability scenarios — conservative, traditional, and maximum — with monthly payment breakdowns and DTI ratios.
Your Affordability Range
Based on your income and debts, here are three scenarios showing what you can afford, from conservative to maximum.
Price Range Summary
Conservative
Comfortable budget
$195,000
Traditional
Bank typical
$219,000
Maximum
Tight budget
$328,000
Note: With a 10% down payment, you'll need to pay PMI (Private Mortgage Insurance). The estimated PMI rate is 0.60% annually, which is included in the monthly payments shown below. PMI will be removed once you reach 20% equity.
Conservative
Comfortable budget with strong disposable income
Maximum Home Price
$195,000
Total Monthly Payment
$1,560
Breakdown:
Debt-to-Income Ratios:
Monthly Disposable Income
$2,627
Approval Likelihood
Very High
Traditional
Standard bank approval criteria
Maximum Home Price
$219,000
Total Monthly Payment
$1,752
Breakdown:
Debt-to-Income Ratios:
Monthly Disposable Income
$2,435
Approval Likelihood
High
Maximum
Maximum affordability with limited savings potential
Maximum Home Price
$328,000
Total Monthly Payment
$2,624
Breakdown:
Debt-to-Income Ratios:
Monthly Disposable Income
$1,563
Approval Likelihood
Possible/Risky
Compare Scenarios
See how changes in income or interest rates affect your affordability
Adjust Income
Model a raise, bonus, or income change
Original: $75,000
Adjust Interest Rate
See how rate changes affect buying power
Original: 5.98%
Understanding Debt-to-Income (DTI) Ratios
Front-End DTI (Housing Ratio)
This is your total monthly housing payment (principal, interest, taxes, insurance, PMI, HOA) divided by your gross monthly income.
Example: If your housing payment is $2,000 and your monthly income is $7,000, your front-end DTI is 28.6%.
Back-End DTI (Total Debt Ratio)
This includes your housing payment plus all other monthly debt obligations (car loans, credit cards, student loans) divided by your gross monthly income.
Example: If your total debts are $2,500 and your monthly income is $7,000, your back-end DTI is 35.7%.
Industry Standards
Conservative
25% / 33%
Traditional
28% / 36%
Maximum (FHA)
43% / 50%
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