Home Affordability Calculator
Determine how much house you can afford based on your income, debt, and down payment
Affordability Results
Maximum Home Price
$425,000
Maximum Loan Amount
$375,000
Debt-to-Income Ratio: 28%
Excellent - Well within recommended limits
Excellent - Well within recommended limits
Monthly Payment Breakdown
Principal & Interest
$2,611
Property Tax (est.)
$354
Home Insurance (est.)
$106
PMI (if applicable)
$0
Total Housing Payment
$3,071
Income vs. Debt Breakdown
Debt-to-Income Ratio Analysis
Front-End Ratio
28%
Housing payment ÷ Gross income
Back-End Ratio
39%
Total debt ÷ Gross income
Ratio Guidelines
- Front-End Ratio: Should be ≤ 28% (conventional) or ≤ 31% (FHA)
- Back-End Ratio: Should be ≤ 36% (conventional) or ≤ 43% (FHA)
Tips to Improve Your Home Affordability
💳 Pay Down Debt
Reduce monthly debt payments to improve your debt-to-income ratio and qualify for a larger loan amount.
💰 Increase Down Payment
A larger down payment reduces your loan amount and may eliminate PMI requirements.
📈 Improve Credit Score
A higher credit score can qualify you for better interest rates, reducing monthly payments.
🏠 Consider Different Areas
Look at homes in areas with lower property taxes and insurance costs to maximize affordability.