Mortgage Affordability Calculator
Find a realistic home-price range from your income, debts, and down payment using the same debt-to-income limits lenders apply.
Your finances
Car loans, student loans, credit cards, etc.
Advanced (DTI, costs)
Estimated home price you can afford
$358,878
Based on a maximum housing payment of $2,216.67/mo (limited by your front-end ratio).
Maximum loan
$278,878
Est. principal & interest
$1,762.70
Est. Property tax / mo
$328.97
Est. insurance / mo
$125.00
Lenders typically cap housing costs near 28% of gross income and total debt near 36%. This is an estimate, not a pre-approval — your rate, credit, and lender rules will change the real number.
How this calculator works
We compute your maximum monthly housing budget two ways: the front-end limit (a percentage of gross income) and the back-end limit (a percentage of income, minus your existing debt payments). The smaller of the two is your binding budget. We then solve for the home price whose full monthly cost — principal, interest, property tax, insurance, PMI, and any community fee — equals that budget.
Once you have a target price, run it through the mortgage calculator for the exact payment, the down payment calculator to plan your savings, and the rent vs buy calculator to check whether buying beats renting at your horizon.
Frequently asked questions
How much house can I afford on my income?
A common rule of thumb caps your monthly housing cost near 28% of gross income (the front-end ratio) and your total debt payments near 36% (the back-end ratio). This calculator applies both, subtracts your existing debts, and solves for the home price whose full carrying cost fits the smaller of the two limits.
What is debt-to-income (DTI)?
DTI is the share of your gross monthly income that goes to debt. Front-end DTI counts only housing costs; back-end DTI counts all debt including the new mortgage. Lenders use DTI limits to decide how much you can borrow.
Does a bigger down payment let me afford more?
Yes — a larger down payment means a smaller loan for the same price, so more of your housing budget is available, and it can remove PMI at 20% down. But it also ties up cash. The calculator updates your maximum price as you change the down payment.
Is this a pre-approval?
No. This is an estimate based on standard ratios and your inputs. Your actual borrowing limit depends on your credit, the lender's rules, the rate you're offered, and documentation. Always get a real pre-approval before shopping.