Home affordability calculator
How much house you can afford is not the same question as how much a lender will approve you for. This calculator uses your real income, debts, and savings to show a price range you can actually manage.
$2,100 a month, $40,000 down, on a 30 year loan
At $90,000 a year, this price puts 28.0% of your income toward housing, right at the 28% conservative limit you picked. Add your $400/mo in other debts and all your debt combined reaches 33.3% of income, within lenders' usual 36% ceiling.
A free account keeps your numbers ready across every calculator, no re entering them each time.
How this calculator works
- Step 1Share your numbers
Annual income, monthly debts, and what you have saved for a down payment.
- Step 2Set your assumptions
Interest rate, property tax, and insurance, defaulted to typical figures, on a 30 year loan.
- Step 3Pick your comfort level
Toggle between a conservative and a standard debt to income limit to see how each changes your price.
Frequently asked questions
How is home affordability actually calculated?
Lenders cap your total monthly debt, mortgage included, at a percentage of your gross income, commonly around 36 to 43 percent depending on the loan. This tool applies that same debt to income limit to your real numbers to find the highest price where your payment still fits.
Why does this tool have a conservative and a standard option instead of one fixed number?
Conservative keeps your budget comfortable with room for savings and surprises, using a lower debt to income limit. Standard uses the higher limit a lender would more commonly approve. Toggle between the two to see your price change, most buyers are better served landing closer to the conservative end, even if the standard number is technically approvable.
Does this account for property tax and insurance?
Yes, the affordability estimate builds in typical tax and insurance costs for the price range shown, not just principal and interest, so the result reflects your full monthly housing cost.
What if my down payment is small or zero?
A smaller down payment lowers your affordable price range and usually adds private mortgage insurance to your payment until you reach 20 percent equity. Enter whatever you actually have, the calculator adjusts the range accordingly.
Is this the same as mortgage pre approval?
No, pre approval comes from a lender after they verify your income, credit, and assets, and it is what sellers actually rely on. This tool gives you a realistic starting range before you talk to anyone, so you walk into that conversation informed.
More home buying calculators
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A short check on credit, savings, and debt that scores how ready you are to buy.
Your estimated payment on an FHA loan, mortgage insurance included.
Every number on this page is a planning estimate, for informational and educational purposes only, not professional advice.
Before you act on any major decisions, consult a qualified accountant, tax advisor, or financial advisor who knows your full picture.