Mortgage Affordability Calculator
Calculate how much house you can afford based on your income, existing debts, and loan preferences. Get instant results showing your maximum home price, monthly payment, and debt-to-income ratios for informed home buying decisions.
How Much House Can I Afford?
Calculate your home buying budget based on income and debts
Enter your income, debts, and loan preferences
Include all sources of income before taxes
Our comprehensive mortgage affordability calculator helps you determine how much house you can realistically afford based on your income, existing debts, and preferred loan type. Using industry-standard debt-to-income ratios and loan-specific guidelines, this tool provides accurate estimates for conventional, FHA, and VA loans to ensure you stay within your budget and get approved for financing.
Debt-to-Income Ratios
Front-End DTI Ratio
Housing costs ÷ Monthly gross income
Includes: Principal, Interest, Taxes, Insurance, PMI, HOA fees
Back-End DTI Ratio
(Housing costs + All monthly debts) ÷ Monthly gross income
Includes: All housing costs plus credit cards, loans, etc.
Loan Type Guidelines
Conventional Loans
28% front-end / 36% back-end
Traditional "28/36 Rule"
FHA Loans
31% front-end / 43% back-end
Government-backed flexibility
VA Loans
No front-end / 41% back-end
Veterans benefits
Key Factors That Affect Affordability
Income Considerations:
- • Gross monthly income (before taxes)
- • Stability and consistency of income
- • Multiple income sources (spouse, etc.)
- • Bonus and commission income
Debt Obligations:
- • Credit card minimum payments
- • Auto loans and student loans
- • Personal loans and other debts
- • Child support and alimony
Before You Start Shopping:
- ✓Get pre-approved to know your exact budget
- ✓Pay down high-interest debt to improve DTI ratios
- ✓Save for down payment, closing costs, and emergencies
- ✓Research neighborhoods and home prices
Smart Budgeting Strategies:
- 💡Aim for 25% of gross income on housing (conservative)
- 💡Factor in maintenance costs (1-3% of home value annually)
- 💡Consider future life changes (kids, job changes, etc.)
- 💡Don't forget utilities, internet, and cable costs
🏠 Remember: The goal isn't to buy the most expensive house you can afford, but to find a comfortable home that fits your budget and lifestyle goals while leaving room for other financial priorities!
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