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How Much House Can You Afford?

Use our affordability calculator to estimate your maximum home price based on your income, debts, and down payment.

Home Affordability Calculator

Home Affordability

Calculate how much home you can afford based on your financial profile.

Home Affordability Calculator
Estimate your budget based on income, debts, and current market conditions.
Property Details
Target Home Price
$
Down Payment
$

Adjust these values to see how they affect your monthly payment and DTI below.

Debt To Income Calculator
$
$
$
$
$
Loan Parameters
Live Market Interest Rate ACTIVE 6.84%
Target Debt-to-Income (DTI) Limit 36%
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Estimated Monthly Payment
$2,700
Max Buying Power
$370,033
Down Payment
$40,000
DTI Formula Breakdown
The Math Behind Your DTI
Monthly Debts:$900
Proposed Mortgage:$2,700
Total Monthly Debt:$3,600
Divided by Income: $10,000
Resulting DTI Ratio: 36.0%

Conventional Loans: Typically require a DTI below 36-43%, though some lenders may allow up to 50% with excellent credit.

FHA Loans: Generally more flexible, often allowing a DTI up to 43-50% depending on your credit score and compensating factors.

Personalized Loan Recommendation
Conventional Loan Recommended
With your DTI and down payment, a Conventional loan offers the most flexibility and the ability to remove PMI later.
Estimated Cash to Close
CONVENTIONAL LOAN $54,800
Down Payment
$40,000
Closing Costs
$11,100
Prepaids
$3,700
*Estimates include average 3% closing costs and 1% prepaids.
P&I
$2,160
Taxes
$385
Insurance
$154

Rent vs. Buy

Compare the true cost of renting versus buying over time.

Rent vs. Buy Comparison
See which option saves you more money over your planned time horizon.
Renting
$
Buying
$450,000
$
7 years
🏠 Buying is better!
Over 7 years, you could save approximately $0 by buying.
Total Renting Cost
$0
Avg. Monthly Rent
$0/mo
Net Buying Cost
$0
Equity Gained
—

*Net buying cost includes mortgage, taxes, insurance, and maintenance, minus estimated home appreciation and equity gained.

Ready to take the next step?

Once you have an idea of your budget, getting pre-approved is the most important next step in your home buying journey

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