Home Affordability Calculator

This is a rough estimate; lenders also weigh credit, taxes, insurance and other factors.

Max monthly payment = income ÷ 12 × DTI − debts. That payment is converted to a loan amount using the mortgage formula, then the down payment is added for the price.

A simplified estimate using a debt-to-income limit. Lenders also weigh credit score, employment, property taxes, insurance and down payment, so a pre-approval is the real test.

An 80,000 income with low debts and 40,000 down can often support a home in the low-to-mid 300,000s.

1. Enter your income and monthly debts.
2. Add your down payment, rate, term and DTI limit.
3. Press Calculate.

• Ignoring property tax and insurance, which reduce affordability.

Estimate the home price you could afford based on your income, existing debts, down payment and a target debt-to-income ratio.

First-time and existing home buyers who want a realistic price range before house hunting.

• Get a sensible home-price range from your income.
• See the maximum monthly payment a lender may allow.
• Understand how debts and down payment change affordability.

• Setting a budget before viewing homes.
• Seeing how paying off debt boosts your budget.
• Comparing affordability at different interest rates.