Home Affordability Calculator

Your details

Income mode applies a lender DTI rule. Budget mode reverse-solves from a payment you set.
Your total pre-tax household income per year.
Car loans, student loans, credit-card minimums, child support, not rent.
Sets the front-end and back-end debt-to-income ceilings lenders apply.
Cash you put down. Under 20% of the price usually adds monthly PMI.
%
Annual property tax as a percent of home value. US average is near 1.1%.
% of price / yr
Annual homeowners insurance as a percent of home value, often 0.3% to 0.5%.
% of price / yr
Monthly homeowners-association or co-op fee, if any.
/ mo
Private mortgage insurance, charged yearly on the loan when down payment is below 20%. Set 0 to skip.
% of loan / yr
Currency
Maximum home priceComfortable (within 28/36)
$296,656
Loan amount$256,656
Total monthly payment$2,100
Principal & interest$1,622
Tax + insurance / mo$371
PMI / mo$107
HOA / mo$0
Down payment13%
Total debt-to-income33.3%

You can afford a home up to about 296,656 with a 2,100/mo payment.

  • Your 40,000 down is 13% of that price, under 20%, so monthly PMI of about 107 is included until you build 20% equity.
  • That is a loan of about 256,656, with a 2,100/mo payment split into principal & interest, tax & insurance, HOA and any PMI.
  • The 28/36 rule is a guideline, not a guarantee, lenders also weigh your credit score, cash reserves and job stability.

Next stepGet a pre-approval letter to confirm the price range a lender will actually fund.

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