Home Affordability Calculator
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Find out how much house you can afford based on your income, debts, and down payment. Free, private, and accurate.
How lenders determine your home budget
Lenders evaluate two ratios. Your front-end ratio (housing costs only) should stay below 28% of gross monthly income. Your debt-to-income ratio (DTI) (which adds car loans, student loans, and credit cards) should stay under 36-43%. Both must pass for approval.
Your down payment directly affects your loan-to-value (LTV) ratio. A down payment below 20% on a conventional loan triggers PMI, while FHA loans allow as little as 3.5% down with a 580 credit score.
| Annual Salary | Max Monthly Payment (28%) | Est. Home Price |
|---|---|---|
| $50,000 | $1,167 | $165,000 |
| $60,000 | $1,400 | $200,000 |
| $75,000 | $1,750 | $250,000 |
| $90,000 | $2,100 | $300,000 |
| $100,000 | $2,333 | $335,000 |
| $120,000 | $2,800 | $400,000 |
| $150,000 | $3,500 | $500,000 |
A common guideline is to keep your total monthly housing cost below 28% of your gross monthly income. For example, on a $90,000 salary ($7,500/month), that means a maximum housing payment of about $2,100. Using a 6.5% rate on a 30-year mortgage with a $50,000 down payment, that translates to a home price of roughly $320,000–$360,000 depending on taxes and insurance in your area.
Your debt-to-income ratio compares your monthly debt payments to your gross monthly income. Lenders look at two ratios: the front-end ratio (housing costs only, ideally below 28–31%) and the back-end ratio (all monthly debts including the mortgage, ideally below 36–43%). A back-end DTI above 43% makes it harder to qualify for most conventional loans.
Yes. The calculator includes principal and interest, property taxes (based on the rate you enter), homeowners insurance, and PMI if your down payment is less than 20% of the home price. This gives you the true all-in monthly cost, not just the loan payment.
Private Mortgage Insurance (PMI) is required by most lenders when your down payment is less than 20% of the home price. It protects the lender if you default. PMI typically costs around 0.5–1% of the loan amount per year. This calculator uses 1% as a conservative estimate. Once you reach 20% equity, you can typically request PMI removal.
Conservative uses 28% front-end and 36% back-end DTI limits, the strictest traditional standard. Moderate uses 31% and 43%, which is the standard threshold for most conventional loans today. Aggressive uses 35% and 50%, which some lenders allow for borrowers with strong credit. The moderate estimate is the most useful starting point for most buyers.
Yes, completely. All calculations are performed directly in your browser using JavaScript. No income figures, debt amounts, or any other financial information you enter are ever sent to a server or stored in any database. Your inputs are saved only in your browser's local storage for convenience.