This calculator uses industry-standard debt-to-income (DTI) ratios to determine the maximum home price you can afford. It accounts for your full housing payment (principal, interest, taxes, insurance, PMI, HOA) plus existing debts, then back-solves the largest mortgage you qualify for.
Total monthly housing payment รท gross monthly income. Most lenders cap this at 28% for conventional loans. It includes principal, interest, property tax, insurance, PMI, and HOA.
All monthly debt (housing + car + student loans + credit cards) รท gross monthly income. Conventional loans typically cap this at 36%. FHA allows up to 43%. The lower of the two ratios is your binding constraint.
The four components of your housing payment: Principal, Interest, Taxes, Insurance, plus HOA dues. PMI is added if your down payment is less than 20%, and drops off once you reach 20% equity.
A 1% rate change can swing your buying power by roughly 10%. The sensitivity table shows how much house you can afford at several rate scenarios, so you can see the impact of waiting for rates to move.
Enter your income and loan details to see results
Enter your income and loan details to see results
Enter your income and loan details to see results
Enter your income and loan details to see results