Calculator
Home Affordability Calculator
Estimate a comfortable home price range based on income, debts, down payment, interest rate, and estimated housing costs.
Inputs
$
$
$
%
$
$
$
Results
Estimated affordable price$327,115
Estimated loan amount$287,115
Estimated monthly payment$2,567
Principal & interest$1,862
Taxes$400
Insurance$125
PMI estimate$179
Estimated DTI34.0%
Suggested housing budget$2,567
Down payment$40,000
Conservative
$288,442
Moderate
$327,115
Stretch
$365,787
Results are estimates for educational purposes only and are not a loan offer, pre-approval, or guarantee of rates, terms, or eligibility. Actual figures may vary based on credit profile, income, property, lender guidelines, and market conditions. Eligibility varies.
Explore Purchase Options This calculator provides an educational estimate and is not a pre-approval or commitment to lend. Actual affordability and loan eligibility depend on lender review, credit profile, income, assets, debts, property type, loan program, and other factors.
Helpful to know
What does affordability mean?
Affordability looks at what monthly payment may fit comfortably alongside your other obligations and goals.
Why income and debt matter
Lenders often evaluate housing costs and total debts as a percentage of gross monthly income.
How down payment affects affordability
A larger down payment can reduce loan size, monthly payment, and may help avoid PMI.
Pre-approval vs. affordability
Pre-approval involves lender review of credit, income, and assets. Affordability is an estimate based on inputs.
First-time buyer considerations
Closing costs, reserves, and ongoing maintenance also factor into what may feel affordable long-term.