Finance Tools
Home Affordability Calculator
Estimate how much house you can afford based on your income, debts, and loan terms.
Estimate how much house you can afford based on your income, existing debts, and basic mortgage assumptions.
How to use this home affordability calculator
- Enter your gross annual income before taxes.
- Enter your total monthly debt payments (credit cards, car loans, student loans, etc.).
- Enter the down payment you can make, along with the expected mortgage interest rate and term.
- Click Calculate to see the maximum home price, loan amount, and estimated monthly mortgage payment you can afford.
Example
Imagine you earn $90,000 per year, pay $600 per month on other debts, have $60,000 saved for a down payment, and expect a 6% mortgage over 30 years. This calculator helps you understand:
- The maximum monthly mortgage payment that keeps your debt-to-income ratio in a healthy range.
- The maximum loan amount you can reasonably qualify for.
- An estimated maximum home price you should target with your budget.
- Your resulting debt-to-income (DTI) ratio after the mortgage payment.
More tools in Finance Tools
- Mortgage Calculator
Estimate your monthly mortgage payment based on loan amount, interest rate, and term.
- Amortization Calculator
Generate a full amortization schedule with monthly principal and interest breakdown.
- Refinance Calculator
Compare your current mortgage with a new refinance offer and see monthly savings, total interest saved, and breakeven point.