Home Affordability Calculator
Estimate a conservative home price and monthly payment based on your income, debts, down payment, and a destination city.
$322,358
Loan amount of $282,358 at 6.75% over 30 years.
$2,217/mo
Principal & interest $1,831, plus taxes and insurance below.
$269/mo
Based on a 1.0% annual rate on the estimated price.
$117/mo
$1,404/yr, editable above.
32.4%
Within the conservative 36% guideline.
This calculator uses conservative, simplified lending assumptions — a maximum 28% front-end housing ratio and 36% back-end debt-to-income ratio — and does not represent a loan offer, pre-approval, or guarantee. Actual affordability depends on your lender, credit history, loan program, HOA dues, PMI, local tax assessments, and other factors. Confirm any numbers with a licensed mortgage lender before making decisions.
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How to use this calculator
- 1Enter your gross annual household income and the cash you have for a down payment.
- 2Add your monthly debt payments and pick the credit tier that best matches your profile — this adjusts the assumed interest rate up or down.
- 3Choose a 30- or 15-year loan term and, if you like, search a destination city to auto-fill that state's average property tax and a home-insurance estimate.
- 4Read the result cards for an affordable price, monthly payment breakdown, and debt-to-income ratio.
What the results mean
- Affordable home price is the maximum purchase price your income and debts could support under the ratios below — not a recommendation to spend that much.
- Monthly payment (PITI) breaks out principal & interest, property taxes, and insurance so you can see what drives the number.
- Debt-to-income (DTI) is color-coded: at or below 36% is conservative, up to 43% is often still lendable, and above that signals a smaller approved amount in practice.
- Price range in your city compares the estimate to the local median to show whether most of the market is in reach.
Major factors this calculator considers
Income & debts — gross annual income and existing monthly obligations set the ceiling on what's left for housing.
Down payment — more cash down lowers the loan amount and the monthly payment, raising the price you can afford.
Interest rate & credit — your credit tier adjusts the rate, which has a large effect on monthly cost over a 15- or 30-year term.
Property taxes & insurance — local tax rates and insurance costs vary by state and are part of the full monthly payment, not just the mortgage.
Limitations & assumptions: the model uses a 28% front-end housing ratio and a 36% back-end debt-to-income ratio, a single base interest rate adjusted by credit tier, and state-average property taxes. It does not include HOA dues, PMI, closing costs, variable-rate loans, or local tax exemptions. It is a planning estimate, not a loan offer, pre-approval, or guarantee — confirm any number with a licensed mortgage lender before deciding.
Useful next steps
Pair this number with a salary comparison or cost-of-living estimate for the city you're considering.