Home Affordability Calculator

Enter your financial details below to calculate the maximum home price you can afford based on your income, debts, and down payment.

Key Factors Affecting Your Home Buying Budget:

• Gross Household Income: Your total annual income before taxes and deductions.
• Monthly Debt Payments: Existing financial obligations like car loans, student loans, and credit card payments.
• Down Payment: The upfront payment you can make toward your home purchase.
• Interest Rate: The current mortgage interest rate you qualify for.
• Debt-to-Income (DTI) Ratios: U.S. lenders typically use two ratios to determine affordability:
  • Housing Ratio: Housing costs are often targeted around 28% of your gross income.
  • Total DTI Ratio: Total debt payments (including housing) are often targeted around 36-43% depending on the loan program.