Home Affordability Calculator
Estimate a home budget from income and debts.
What this home affordability calculator does
Estimate a home-price range from income, debts, down payment, interest rate and a target housing budget.
How to use the calculator
Affordability is more than a lender’s maximum approval. Enter a monthly housing target that leaves room for taxes, insurance, maintenance, utilities and other financial goals.
How the calculation works
The estimate works backward from a target monthly housing cost and the financing assumptions to approximate an affordable loan and purchase price. It should be treated as a budgeting estimate.
What the result means
The number shown is best used as a planning estimate. Change one assumption at a time to see which inputs have the largest effect. For financial decisions, compare the result with current statements, lender disclosures, employer information or other authoritative records.
Important assumptions and limitations
CFPB guidance recommends considering total housing costs, including principal, interest, property taxes and homeowners insurance, rather than focusing only on the loan amount.
Frequently asked questions
The model uses annual gross income, monthly debt, a 36% housing-budget guideline, entered property taxes and insurance, the mortgage rate and loan term to estimate a price.
No. It is a simplified budgeting assumption used by this calculator. Actual underwriting standards vary by lender, loan type and borrower profile.
The current inputs include property tax and insurance but do not separately model PMI or HOA. Those costs can materially reduce an affordable housing budget.
Credit, down payment, debt-to-income rules, reserves, loan programs, taxes, insurance and other underwriting factors can change the amount a borrower qualifies for.
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