Home Affordability Calculator

Determine how much house you can afford based on your income, existing debts, and down payment. Get personalized affordability estimates with detailed DTI ratio analysis.

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Income Analysis

Calculate maximum home price based on your annual income and debt obligations

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DTI Calculations

Front-end and back-end debt-to-income ratio analysis with recommendations

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Smart Recommendations

Get personalized down payment and loan amount recommendations

Financial Information

$

Your gross annual income before taxes

$

Credit cards, car loans, student loans, etc.

$

Cash available for down payment

%

Maximum debt-to-income ratio (typically 28-36%)

Loan Parameters

%

Current mortgage interest rate

years

Loan term in years

Property Costs (Annual %)

%

Annual property tax as % of home value

%

Annual insurance as % of home value

%

PMI rate (if down payment < 20%)

$

Monthly HOA or maintenance fees

Affordability Results

Enter your financial information to see how much house you can afford.

Understanding DTI Ratios

Front-End DTI

Your housing payment (PITI) divided by gross monthly income. Most lenders prefer this to be 28% or less.

Back-End DTI

All monthly debt payments divided by gross monthly income. Generally should not exceed 36-43% depending on loan type.

What's Included

  • Principal and interest payments
  • Property taxes and insurance (PITI)
  • HOA fees and PMI
  • Credit cards and other debt payments

Affordability Tips

💡 Improve Your Budget

  • Pay down existing debts to lower DTI
  • Increase your down payment to 20% to avoid PMI
  • Consider a longer loan term for lower payments
  • Shop around for better interest rates

⚠️ Additional Costs

  • Closing costs (2-5% of home price)
  • Moving expenses and immediate repairs
  • Increased utilities and maintenance
  • Emergency fund for unexpected issues

🎯 Best Practices

  • Get pre-approved before house hunting
  • Budget for the full monthly payment (PITI + HOA)
  • Keep 3-6 months of payments in reserve
  • Consider future income and expense changes

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Loan Comparison

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