Calculator
Home Affordability Calculator
See a price range based on your income, debts and the debt-to-income ratio you choose.
Estimated price range up to
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Estimates only, based on the numbers you enter. Not a Loan Estimate, rate quote, offer or commitment to lend. Actual terms depend on credit, property, program and market conditions.
How this works
Lenders compare your total monthly debts, including the new housing payment, with your gross monthly income. This calculator works backward from the ratio you choose to the price that fits.
Important limits
Maximum ratios depend on the program, automated underwriting findings, credit, reserves and other factors. This doesn't include mortgage insurance, which many low down payment loans require, or closing costs. Just because a lender will approve a payment doesn't mean it fits your budget. Read how qualifying works.
Common questions
How much house can I afford?
Lenders look at your debt-to-income ratio: your total monthly debts, including the new housing payment, divided by your gross monthly income. This calculator works backward from the ratio you choose to a price. What a lender will approve and what fits your budget aren't always the same number.
What debt-to-income ratio do lenders use?
It depends on the program, your credit, savings and the automated underwriting findings. Many borrowers are approved somewhere in the 36% to 50% range, but there's no single cutoff. I'll tell you what your file actually supports.
Does this include mortgage insurance and closing costs?
No. Many low down payment loans require mortgage insurance, and you'll also need cash for closing costs and reserves. Add those before settling on a budget.
Want real numbers for your scenario?
I'll run your situation against actual program guidelines and walk you through every line.
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