Affordability calculator
How much house can I afford?
Use income, debts, cash on hand, and housing costs to estimate a realistic home price range. Then check the estimate against a complete mortgage file.
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Car, student loans, credit cards, minimums. Not rent.$
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An editable illustration. Use a rate you have actually been quoted if you have one. We do not post rates.yrs
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Zero for most single-family homes. Condos and many townhomes have them, and they come straight out of the same budget.% / yr
Percent of the loan per year. Leave at zero if you are not sure. Whether you pay it depends on the loan you end up with.%
A common guideline for housing as a share of gross income. Editable, because the qualifying ratio depends on the program and the underwriting result.%
A common guideline for all debt including housing. Also editable, and also not a promise about your file.Rough planning estimate
A price worth shopping around, on these numbers:
$385,974
This is a planning estimate. It is not an approval, a pre-approval, or an amount anyone has agreed to lend you.
- Whole housing budget
- $2,800 / mo
- Property taxes
- $400 / mo
- Homeowners insurance
- $150 / mo
- Left for principal and interest
- $2,250 / mo
- Estimated loan amount
- $355,974
Right now the limit is set by your income.
What this assumed
- Housing capped at 28% of gross income and all debt at 43%. Those are common guidelines you can edit, not rules any lender has applied to you.
- A 6.5% rate over 30 years, both of which you set.
- Taxes, insurance, HOA and mortgage insurance come out of the budget before any loan amount is worked out, which is why they move the price this much.
- Not included: closing costs, cash reserves a lender may want to see, and any assessment or dues change after you buy.
This is an educational planning estimate built only from the numbers you entered. It is not a pre-approval, a rate quote, an approval, or a commitment to lend, and it is not a guaranteed amount. Your real numbers depend on full underwriting, your credit, the property and the loan you end up with.