This House Affordability Calculator estimates an affordable purchase amount for a house based on household income-to-debt estimates. It is mainly intended for use by U.S. residents.
You can afford a house up to $399,978.62.
| House price | $399,978.62 |
| Loan amount | $319,982.89 |
| Down payment | $79,995.72 |
| Monthly mortgage payment | $2,133.37 |
| Property tax | $499.97/month |
| HOA or co-op fee | $0.00/month |
| Insurance | $166.66/month |
| Total monthly cost | $2,800.00 |
| Debt-to-income (DTI) ratio | 28/36 |
Lenders often limit housing costs to 28% of gross monthly income (front-end ratio) and all debt payments to 36% (back-end ratio). FHA loans allow 31%/43%, and VA loans look at a 41% back-end ratio.
The calculator takes the lower of the two limits, subtracts tax, insurance and HOA, and finds the price whose mortgage payment fits what is left.