Home Affordability Calculator
Estimate a planning range for a U.S. home purchase from your income, monthly debts, down payment and mortgage rate.
Enter your numbers
Estimated home price
$0
Monthly housing budget$0
Budget for principal & interest$0
Estimated loan amount$0
Planning estimate only, not a lender approval. Lenders also weigh credit, assets, employment and loan-program rules.
How the estimate works
The monthly housing budget is the lower of two limits: your housing ratio (28% of gross monthly income by default) and your total debt ratio (36% by default) minus existing monthly debts. After taxes, insurance and HOA are set aside, the rest is the principal-and-interest budget, which is converted into a loan amount using your rate and term. Adding your down payment gives the estimated home price.
Before making an offer
Compare the lender's official Loan Estimate, property taxes, insurance, closing costs and cash needed at closing. Use the mortgage calculator to test a specific home price.