Free House Affordability Calculator
Calculate the maximum home price you can afford from your income, existing debts, down payment and target debt-to-income ratio. Free. No signup required.
- Down Payment$30,000.00 · 9%
- Loan Amount$298,850.29 · 91%
Your income and debts support a home up to $328,850.29 — $30,000.00 of that is your down payment, the rest is financed.
- Max Monthly Payment (PITI budget)$2,300.00
- Loan Amount$298,850.29
Assumes property tax + insurance ≈ 1.5% of home price per year. Lenders' exact DTI rules vary.
About the Free House Affordability Calculator
Most affordability rules of thumb are just a multiple of salary — "buy a home worth 3x your income" — and they fall apart the moment you have a car payment, student loans, or credit card debt, because they never look at what's already coming out of your paycheck. This calculator works the way an underwriter actually does: it takes your income and existing monthly debts, applies a debt-to-income ceiling, and solves backward for the highest home price whose payment still fits under that ceiling.
It's the calculator to run before you start touring homes or talking to a lender — so the price range you're shopping in is one you can actually qualify for, not one a listing site's search filter happened to suggest.
Your income, your debts, and how close to the edge your finances are — none of that needs to leave your browser to get an answer. The math runs locally, so you can find your real number before a loan officer ever sees your pay stubs.
How it’s calculated
The calculator first finds your maximum monthly housing payment: your gross monthly income times your target debt-to-income ratio, minus the debt payments you already carry. From there it searches for the home price whose principal, interest, estimated tax, and insurance payment lands exactly on that budget — testing prices up and down until the payment matches, the same backward approach a pre-approval worksheet uses.
Frequently asked questions
What debt-to-income ratio should I use for this calculator?
36% is the conventional-loan comfort zone most lenders start from, but many will go up to 43-45% with strong credit, and some government-backed programs allow more. Try a couple of DTI values here to see how much the affordable price moves.
Why does this give a different number than the mortgage calculator?
This calculator starts from your income and works backward to a price; the mortgage calculator starts from a price you already have in mind and works forward to a payment. Run both — if they disagree, your income-based ceiling is the more conservative number to shop with.
Does this include closing costs?
No — it estimates the home price your monthly budget supports, not the cash you need on hand. Closing costs typically run 2-5% of the loan amount and are a separate upfront expense on top of your down payment.
What counts as a monthly debt payment here?
Recurring obligations that show up on your credit report — car loans, student loans, minimum credit card payments, personal loans, and other mortgages or child support. Utilities, groceries, and subscriptions aren't counted because lenders don't count them either.
Is 36% DTI a hard rule I need to hit?
No, it's a common lender guideline, not a law — actual limits vary by loan program, credit score, and lender. Treat the result here as a well-informed estimate to shop with, not a guaranteed approval amount.
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