Income and Debt
Higher income can support a larger housing payment, while recurring debt payments reduce the amount of monthly income available for housing.
Home-Buying Budget
Home Affordability Calculator
Estimate how much house you may be able to afford based on your income, monthly debts, down payment, mortgage rate, and estimated housing costs.
✓Free affordability estimate✓Includes monthly debts✓Includes taxes and insurance
Your result is an estimate for planning purposes. Actual affordability and loan qualification depend on lender requirements, credit, income documentation, property details, rates, fees, and other factors.
Calculate Your Home-Buying Budget
Enter a few details to estimate how much home you may be able to afford.
Income and Monthly Debts
Include recurring monthly debt payments such as credit cards, auto loans, student loans and personal loans.
Mortgage Details
Down Payment
Advanced housing cost assumptions
This calculator provides an estimate for planning purposes and does not constitute prequalification, preapproval or an offer to lend.
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Your Affordability Estimate
Enter your income, monthly debts, down payment and mortgage assumptions, then calculate to see an estimated home price, loan amount and monthly housing payment.
Estimated home price
Estimated loan amount
Monthly housing payment
What Determines How Much House You Can Afford?
Home affordability depends on more than the mortgage payment alone. Your income, existing monthly debt obligations, down payment, mortgage rate, loan term, property taxes, homeowners insurance, HOA dues, and mortgage insurance can all affect the home price that fits within a given monthly housing budget.
Mortgage Rate
A higher mortgage rate generally increases the monthly principal and interest payment for the same loan amount, which can reduce estimated buying power.
Housing Costs
Property taxes, homeowners insurance, HOA dues, and mortgage insurance can materially affect the total monthly payment used in an affordability estimate.
How Debt-to-Income Ratio Affects Affordability
Debt-to-income ratio compares monthly debt obligations with gross monthly income. The calculator considers both a housing-focused front-end DTI assumption and a back-end DTI assumption that includes housing plus other recurring debt. The more restrictive limit is used when estimating the maximum housing payment.
Home Affordability Calculator FAQs
How much house can I afford?
The amount of home you may be able to afford depends on your income, monthly debts, down payment, mortgage terms, taxes, insurance, HOA dues, and other costs. Use the calculator above to create an estimate based on your own assumptions.
Is this the same as mortgage pre-approval?
No. An affordability estimate is a planning tool. Mortgage pre-approval is a separate lender process and may involve verification of financial and credit information.
Does the calculator include property taxes and insurance?
Yes. The calculator includes assumptions for property taxes, homeowners insurance, HOA dues, and applicable mortgage insurance or program fees.
Does this calculator guarantee how much I can borrow?
No. The result is an estimate and does not constitute approval, prequalification, a loan commitment, or an offer to lend. Actual lender calculations can differ.
This calculator is provided for informational and educational purposes only. Results are estimates based on the information and assumptions entered and do not represent financial advice, prequalification, preapproval, a loan commitment, or an offer to lend. Actual rates, payments, loan amounts, closing costs, eligibility, and available mortgage products vary by lender and individual circumstances.