House Affordability calculator.
Estimate how much house you can afford from income, debt, down payment, interest rate, DTI rules, property tax, homeowners insurance, HOA, PMI, and fixed monthly budget assumptions.
Use the House Affordability Calculator.
Compare lender-style income and debt-to-income affordability with a separate fixed monthly housing budget. Results update automatically as you type.
Income, debt, loan, and housing-cost assumptions
Income and debt
Estimate affordability from gross household income and recurring monthly debt.
Mortgage and down payment
Loan term, mortgage rate, and available cash down payment.
Taxes, insurance, HOA, and budget
Use the same cost categories as the original reference calculator, plus a separate monthly budget mode.
Monthly payment breakdown
Estimated principal & interest, property tax, insurance, HOA, PMI, and budget room.
DTI allowance
Housing allowance compared with income and monthly debt limits.
Scenario comparison
Conservative, selected DTI, and fixed-budget affordability based on the same assumptions.
Affordability snapshot
Key values to review before contacting a lender.
About the House Affordability Calculator
This house affordability calculator helps home buyers estimate a realistic home purchase price before speaking with a lender. It combines annual household income, recurring monthly debt, mortgage rate, loan term, down payment, property tax, homeowners insurance, HOA or co-op fees, estimated PMI, and maintenance assumptions.
What this calculator includes from the original reference
The reference Calculator.net tool offers two affordability methods: income-to-debt estimates and fixed monthly housing budgets. This PRECISR version implements both methods and includes the missing practical inputs: annual household income, loan term, interest rate, monthly debt payback, down payment, property tax, HOA or co-op fee, insurance, DTI presets for conventional/FHA/VA/custom scenarios, budget for house per month, and maintenance cost.
How to read the result
Affordable home price is the estimated purchase price that fits the selected DTI or budget assumptions. Loan amount is the estimated mortgage after down payment. Monthly payment includes principal, interest, property tax, insurance, HOA, and simplified PMI when applicable. Front-end DTI compares housing costs to income, while back-end DTI includes your other recurring monthly debt.
Important assumptions
Affordability is highly sensitive to mortgage rate, loan term, property tax, insurance, HOA, down payment, PMI, and monthly debt. A lower rate, larger down payment, lower tax area, or lower monthly debt can materially increase estimated purchasing power. A higher DTI setting can show a larger house price, but it also leaves less room for savings, repairs, utilities, emergencies, and other spending.
Related calculators
Mortgage Calculator · Debt-to-Income Ratio Calculator · Amortization Calculator · Rent Calculator · Rental Property Calculator
Disclaimer: This calculator is for education and planning only. It is not mortgage, legal, tax, financial, or lending advice and does not guarantee loan approval. Actual affordability depends on lender underwriting, credit score, cash reserves, local taxes, insurance quotes, mortgage insurance, closing costs, appraisal, loan program rules, and personal risk tolerance.
House affordability calculator FAQ
Answers about DTI, income, debt, monthly budget, tax, insurance, HOA, PMI, and affordability assumptions.
How much house can I afford?
A common estimate compares your gross monthly income, recurring monthly debt, interest rate, down payment, property tax, insurance, HOA or co-op fees, and loan term. This calculator estimates the maximum home price under lender-style debt-to-income rules and a separate fixed monthly housing budget.
What is the 28/36 rule?
The 28/36 rule is a conventional-loan guideline that suggests housing costs should be no more than 28% of gross monthly income and total monthly debt, including housing, should be no more than 36%.
How are front-end and back-end DTI different?
Front-end DTI compares monthly housing costs to gross monthly income. Back-end DTI compares housing costs plus other recurring debt, such as car loans, student loans, credit cards, and personal loans, to gross monthly income.
Which DTI preset should I use?
Use Conventional 28/36 for a conservative baseline, FHA 31/43 for an FHA-style scenario, VA 41 back-end for a VA-style debt test, or a custom percentage when you want to stress-test affordability. Actual lender approval rules may differ.
Does the calculator include property taxes and insurance?
Yes. The income-based calculator includes annual property tax, homeowners insurance, and HOA or co-op fees. The fixed-budget calculator can also include property tax, insurance, HOA, and maintenance inside the monthly housing budget.
Does the calculator include PMI?
Yes. A simplified annual PMI estimate is automatically added when the down payment is below 20%. PMI varies by loan type, credit score, loan-to-value ratio, and lender.
Why does monthly debt reduce affordability?
Monthly debt uses part of your back-end DTI allowance. Higher car, student-loan, credit-card, or personal-loan payments leave less room for the housing payment a lender may approve.
How does the fixed monthly budget calculator work?
It starts with the monthly amount you want to spend on housing, subtracts taxes, insurance, HOA, maintenance, and estimated PMI when applicable, then solves for the home price supported by the remaining principal-and-interest payment.
Are the results guaranteed lender approval?
No. Results are estimates for education and planning. Lenders may consider credit score, cash reserves, employment history, loan program, local taxes, property type, mortgage insurance, closing costs, and underwriting rules.
How can I improve house affordability?
You can reduce monthly debt, increase income, save a larger down payment, improve your credit score, consider a longer loan term, compare mortgage rates, choose a lower-tax area, or shop for less expensive homes.