Finance Calculators

Home Affordability Calculator

Estimate the maximum home price you can afford based on your income, existing debts and a target debt-to-income ratio.

Annual household income

Other monthly debt payments

Down payment

Annual interest rate

Loan term

years

Max debt-to-income ratio

Max monthly housing payment —

Max affordable home price —

About the Home Affordability Calculator

Lenders typically limit your total monthly debt payments (including the new mortgage) to a percentage of your gross income — the debt-to-income (DTI) ratio. This calculator works backward from that limit to estimate an affordable home price.

Formula: Max Monthly Payment = (Annual Income ÷ 12) × DTI Limit − Existing Debts, then solved for loan amount using the mortgage payment formula in reverse.

This estimate excludes property tax, insurance and HOA fees from the payment limit, so your actual affordable price may be somewhat lower once those are included.