🏠 How Much Home Can I Really Afford?

Estimate your affordability and see how adjustments can boost your buying power.

A lender tells you how much you can borrow. This calculator helps you learn what you can afford with your lifestyle.

Use it before talking to a lender. It gives a full picture of your money situation, not just credit debts. It includes everyday spending like food, gas, fun, and savings.

Start by typing your income and any fixed payments. Then add normal living costs. The result shows a monthly home cost that fits your real life—not just what the bank allows. You can print or email your results. Your data is not saved or shared.

This tool is for you—to help you feel ready and confident.

Because buying a home should feel right, not risky.

Annual Pretax Income ($) * Monthly Debt Payments ($) * Monthly Recurring Expenses ($): Down Payment ($) * Interest Rate (%) * Debt-to-Income Ratio (%) * Loan Term * Annual Property Taxes ($): Annual Homeowners Insurance ($): HOA Fees (Monthly $): PMI (% of loan annually, 0 if not applicable):

Estimated Home Affordability

🏡 Home Price: $—

📄 Loan Amount: $—

Monthly Breakdown:

Debt Payments: $—
Recurring Expenses: $—
Mortgage (Principal & Interest): $—
Property Taxes: $—
Homeowners Insurance: $—
HOA Fees: $—
PMI: $—

Total Monthly Commitments:

$—

Lender Perspective Estimates

Lender Approved Mortgage (P&I) Payment: $—

Lender Home Price Limit: $—

📘 Glossary: Home Affordability Calculator Terms 🙂

A quick guide to help you understand and plan smarter.

Income & Debt

Annual Pretax Income
Your total income before taxes. Used to calculate what you can afford monthly.
Monthly Debt Payments
Regular debt obligations like car loans, student loans, or credit cards.
Monthly Recurring Expenses
Non-debt monthly costs like groceries, gas, utilities, subscriptions, and child care. These aren’t included in lender DTI but impact your true affordability.
Debt-to-Income Ratio (DTI)
Shows how much of your income goes toward debt. Most lenders prefer it under 45%.

Loan & Property Costs

Down Payment
The upfront cash you contribute toward buying the home. Impacts your loan amount and PMI.
Interest Rate
The cost of borrowing money from your lender. Affects your monthly mortgage payment.
Loan Term
The length of your loan — usually 15 or 30 years. Shorter terms = higher payments but less total interest.
PMI (Private Mortgage Insurance)
Required if your down payment is under 20%. Adds to your monthly cost but can be removed later. The annual 0.55% rate is used for all FHA loans. Ask a lender about PMI for conventional loans.
Property Taxes
Local taxes based on your home’s value. Typically paid monthly with your mortgage.
Homeowners Insurance
Covers damage or loss to your home. Usually required by lenders.
HOA Fees
Monthly dues for properties in managed communities. Can vary widely.

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