Home Affordability Calculator
Find out how much house you can afford based on your income, debts, and down payment using the same DTI ratios lenders evaluate.
Car loans, student loans, credit cards, etc.
Assumes 1.02% property tax, $1,500/yr insurance, 28/36 DTI limits. Use the Full Analysis tab to customize these.
Estimated Maximum Home Price
$314,000
Down payment is 19.1% — PMI included
Loan Amount
$254,000
Down Payment
$60,000
(19.1%)
Est. Monthly
$2,103
Monthly Payment Breakdown
Income
Monthly Debts
Loan Details
Customize DTI Limits
Estimated Maximum Home Price
$281,000
Based on 28% front-end / 36% back-end DTI
Down Payment
$56,200 (20%)
Loan Amount
$224,800
Monthly Payment
$1,847
Debt-to-Income Ratios
Most conventional lenders require ≤28% front-end and ≤36% back-end DTI. FHA loans allow up to 31%/43%.
Price Scenarios
Conservative
$240,000
Moderate
$281,000
Stretch
$320,000
Monthly Payment Breakdown
Affordability Range
Understanding DTI Ratios
Front-End DTI (Housing Ratio)
This measures total housing costs (mortgage payment, property taxes, insurance, PMI, and HOA fees) as a percentage of gross monthly income. Most lenders look for this to be 28% or less for conventional loans, though FHA allows up to 31%.
Back-End DTI (Total Debt Ratio)
This includes all monthly debt obligations (housing costs plus car payments, student loans, credit cards, etc.) as a percentage of gross income. Conventional loans typically cap this at 36%, while FHA loans allow up to 43%. Some lenders may approve higher ratios with compensating factors.
About This Analysis
This calculator provides estimates based on the inputs you supply. It assumes standard amortization and does not account for taxes, insurance, PMI, prepayment penalties, or the opportunity cost of funds. Results are for informational and educational purposes only and should not be considered financial advice. Consult a qualified professional before making financial decisions.
- ·Does not account for closing costs, moving expenses, or maintenance reserves.
- ·PMI estimate assumes standard private mortgage insurance; actual rates vary by lender and credit score.
- ·Property tax and insurance estimates may differ significantly by location.
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Also Consider
Quick Reference
- Closing Cost BreakdownTypical fees and who pays what
- PMI Thresholds & RatesWhen PMI applies, typical rates, removal rules
- Conforming Loan Limits2025 limits by county (FHA, conventional, jumbo)
- Current Mortgage Rates30-year, 15-year, ARM averages by credit score
- Mortgage Tax DeductionsWhat's deductible, limits, phase-outs
- Property Tax Rates by StateAverage effective rates and exemptions
Insights
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