Calculators
How Much House Can I Afford?
Enter your income, debts and savings to estimate a comfortable home price, including property taxes, insurance and mortgage insurance.
You may be able to afford a home up to
$644,841
- Estimated monthly payment
- $4,775
- Loan amount
- $584,841
- Down payment share
- 9%
At 36% DTI
$523,959
At 50% DTI
$765,724
How this estimate works
We take your gross monthly income and apply the debt-to-income limit you choose. After subtracting your other monthly debts, what’s left is your budget for the house payment: principal and interest, property taxes, homeowners insurance, mortgage insurance and HOA dues.
The calculator then finds the highest home price whose total payment fits that budget, using your down payment, rate and term. A lower debt-to-income ratio leaves more room in your monthly budget for savings and everyday expenses.
Lenders also look at your credit, cash reserves and the specific loan program, so your actual buying power may be higher or lower. Talk to a loan officer for a personalized answer.
FAQ
Affordability questions
What is a debt-to-income ratio?
Your debt-to-income ratio (DTI) compares your monthly debt payments, including the new housing payment, with your gross monthly income. Lenders often prefer a total DTI of 43% or less, though some programs allow more with strong credit or other compensating factors.
Does this calculator pre-qualify me?
No. It’s an estimate to help you plan. Pre-qualification is a review of your actual income, assets, debts and credit by a loan officer, and it still isn’t a loan approval.
What else affects how much I can borrow?
Your credit history, the loan program, the interest rate, your cash reserves, property taxes and insurance in the area you’re buying, and HOA dues all play a part. We look at all of them when you pre-qualify.
Calculators
More ways to run the numbers
This calculator is for illustration only. It is not a pre-qualification, an offer of credit or a commitment to lend. The example interest rate is not an APR, may not be available to you and changes daily.
Ready to know your real budget?
Get pre-qualified by a licensed loan officer and shop with confidence.