How much house can I afford?

This is a back‑of‑the‑envelope estimate based on common debt‑to‑income ratios. Lenders all have their own rules. Treat this as a starting point only.

Gross monthly income

Other monthly debt payments

Max housing ratio (front‑end %)

Max total debt ratio (back‑end %)

Estimated taxes + insurance + HOA (monthly)

Mortgage rate (APR %)

Mortgage term (years)

Down payment

Currency symbol (optional)

Enter your numbers and click estimate. This is very rough.

–

How this home affordability calculator works

This is a rough affordability estimate. It uses your income, debt, estimated mortgage rate, and housing costs to back into a home price range that fits common debt‑to‑income guidelines.

What matters most

Monthly income (gross)

Other monthly debt (car loans, student loans, credit cards)

Mortgage rate and down payment

Taxes/insurance (often overlooked)

Reality check

Lenders look at your full credit profile and local costs. Treat this page as a planning tool—not an approval or pre‑qualification.

What this tool is estimating

This calculator gives a rough affordability estimate based on income, existing monthly debt, and a few home‑ownership costs (like taxes/insurance). It’s a planning tool — lenders and real budgets vary widely.

Why “monthly payment” matters more than price

Interest rate: a small rate change can swing affordability a lot.

Taxes/insurance/HOA: these costs can be significant and don’t go to the loan principal.

Debt‑to‑income (DTI): many lenders look at how much of your monthly income goes to debt payments.

Worked example (rough)

If your monthly income is $6,000 and other monthly debt is $500, the tool estimates a range of housing payment you may be able to carry. Use that monthly payment to back into a price range, then adjust for down payment and interest rate.

Make it more realistic

Add utilities, maintenance, and savings goals to your budget — not just the mortgage payment.

If you have variable income, use a conservative average.

When comparing homes, compare the total monthly cost, not just the list price.

Costs people often forget

Maintenance and repairs (especially for older homes)
Utilities and seasonal spikes (heating/cooling)
HOA dues (if applicable)
Closing costs and moving costs

Stress‑test your budget

Try a scenario with a higher interest rate and a higher tax/insurance estimate. If the payment still fits comfortably, you’re less likely to feel “house‑poor.”

Down payment considerations

A larger down payment can lower the monthly payment and may reduce or remove mortgage insurance (depending on the loan type).
Don’t drain your emergency fund just to hit a bigger down payment — closing costs and first‑year expenses add up.

After you get a range

Use the output as a starting range, then verify with a lender quote and your real budget. If the estimate feels tight, test a smaller price, a larger down payment, or a longer timeline.