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

💰 Financial Information

Enter your income, debts, and loan preferences

$

Include all sources of income before taxes

About Our Mortgage Affordability Calculator

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.

How Mortgage Affordability Is Calculated

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
Frequently Asked Questions

Smart Home Buying Tips

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!