Home Affordability Calculator
Calculate how much home you can afford based on your income and debts
$
$
Car, student loans, etc.
$
%
years
Range: 10 - 30
%
Annual rate
%
Annual rate
Maximum Home Price
$359,267.94
16.7% down payment
Maximum Loan Amount
$299,267.94
30-year mortgage
Total Monthly Payment
$2,500.00
Principal & Interest
$1,991.04
Property Tax
$359.27
Insurance
$149.69
Income & Debt Analysis
Monthly Gross Income$8,333.33
Current Monthly Debts$500.00
Max Total Housing + Debts$3,000.00
Available for Housing$2,500.00
Your DTI with This Home36.0%
Housing-to-Income Ratio30.0%
Home Price by Down Payment
| Down Payment | Home Price | Loan Amount | Monthly Payment |
|---|---|---|---|
| $20,000.00 | $326,290.10 | $306,290.10 | $2,500.00 |
| $40,000.00 | $342,779.02 | $302,779.02 | $2,500.00 |
| $60,000.00 | $359,267.94 | $299,267.94 | $2,500.00 |
| $80,000.00 | $375,756.86 | $295,756.86 | $2,500.00 |
| $100,000.00 | $392,245.78 | $292,245.78 | $2,500.00 |
Understanding DTI Ratios
- 28% (Conservative): Traditional guideline for housing costs only
- 36% (Standard): Common maximum for total debt including housing
- 43% (Maximum): Highest ratio typically allowed for qualified mortgages
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