House Affordability Calculator

How to calculate how much house you can afford

1. Choose Estimate price from income & DTI limits or Estimate price from a target monthly payment.
2. Enter Down payment ($), Interest rate (annual %), and Loan term (years). Add Property tax rate (annual %, optional), Homeowners insurance ($/year, optional), and HOA / condo fees ($/month, optional) when they apply.
3. In income mode, enter Gross annual income ($), Other recurring monthly debts ($, optional), Front-end DTI threshold (% of income, housing only), and Back-end DTI threshold (% of income, housing + all debts).
4. In payment mode, enter Target total monthly housing payment ($).
5. Select Calculate. After a result appears, use Copy result or Download result (.txt) to keep the generated text.

What the income and payment modes calculate

Income mode divides Gross annual income ($) by 12. The front-end limit is monthly income multiplied by Front-end DTI threshold (% of income, housing only). The back-end housing limit is monthly income multiplied by Back-end DTI threshold (% of income, housing + all debts), minus Other recurring monthly debts ($, optional). The lower limit becomes the target housing payment. Payment mode uses Target total monthly housing payment ($) directly.

Gross annual income: 95000
Other recurring monthly debts: 350
Front-end DTI threshold: 28
Back-end DTI threshold: 36
Down payment: 40000
Interest rate: 6.5
Loan term: 30
Property tax rate: 1.1
Homeowners insurance: 1400
HOA / condo fees: 0
Estimated affordable home price: about $325,095
Estimated loan amount: about $285,095

For either mode, the calculator solves for a price where monthly principal and interest, property tax, insurance, and HOA fees equal the target. The loan uses a fixed rate and fully amortizes over the number of monthly payments in Loan term (years). At 0%, P&I is the loan amount divided by the number of payments.

What the House Affordability Calculator leaves out

Down payment is a fixed dollar amount, so the loan is the solved price minus that amount. Property tax uses a percentage of the price. Homeowners insurance is the annual amount divided by 12, and HOA / condo fees are monthly. Blank optional fields count as zero.

The estimate excludes closing costs, PMI, and one-time fees. The calculator does not check credit, employment, assets, lender rules, or approval. A target payment fails when taxes, insurance, and HOA already reach it at a price equal to the down payment.

Interest rate accepts 0 to 30%. Loan term (years) must be a whole number from 1 to 50. Dollar amounts and recurring costs cannot be negative. Income, DTI thresholds, and a target payment must be above zero; DTI thresholds cannot exceed 100.

Where a home affordability estimate comes up

• Compare a planned down payment and rate with a monthly budget before saving listings.
• Include car loans, student loans, or card minimums in the back-end DTI calculation.
• Use payment mode to test how property tax, insurance, or HOA / condo fees change the estimated price.

Which financial calculator should you use?

Use the Financial Calculators category when you need a different housing, loan, debt, or savings calculation. The Mortgage Calculator starts with a known home price and includes a full amortization or extra-principal scenario. The Debt-to-Income Ratio Calculator calculates DTI from income and debts. The Down Payment Calculator covers a required down payment and savings plan.

The calculation runs in the browser, and the calculator script makes no network request with the values you enter. Copy result puts the generated text on the clipboard. Download result (.txt) creates a text file on your device.

Frequently asked questions