justyourcalculatorHouse Affordability Calculator
The most house your income, debts and down payment support.
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House Affordability Calculator
How much house you can afford on your income
Before taxes.
Car, student, credit card minimums. Not rent.
Of the home price.
Of the loan, with under 20% down.
Home price you can afford
$432,552
$2,800.00 a month for housing
- Loan amount
- $346,042
- Down payment
- $86,510 (20%)
- Principal and interest
- $2,187.22
- Property tax
- $432.55
- Home insurance
- $180.23
- Total monthly housing cost
- $2,800.00
- Estimated closing costs
- $12,977
- Cash needed at closingDown payment plus closing costs
- $99,487
- Housing limit28% of $10,000.00 gross monthly income
- $2,800.00 / month
- Total debt limit36% of income, $3,100.00 left after your debts
- $3,600.00 / month
- Limited by
- Housing ratio
Rate 6.5% fixed for 30 years. Taxes and insurance are estimates; lenders also look at your credit score, savings and job history.
- Principal and interest$2,187
- Property tax$432.55
- Insurance$180.23
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How the house affordability calculator works
Lenders look at two debt-to-income ratios. The front-end ratio caps housing costs (mortgage, property tax, insurance, HOA and PMI) at a share of gross monthly income; the back-end ratio caps housing plus all other debt payments. Conventional loans often use 28% and 36%, FHA 31% and 43%, and VA 41% for total debt.
The calculator takes the smaller of the two limits as your maximum housing payment, then solves for the home price whose payment, taxes, insurance and PMI fit exactly inside it.
These are lending rules of thumb, not a budget. Leave room for savings, repairs and everything else you spend on.
Using and checking your result
Published by JustYourCalculator. Check the units and assumptions above, and compare a known example before relying on the output. Calculations use browser arithmetic and may round displayed values.
This is an educational estimate, not a lender quote, tax filing calculation or investment recommendation. Actual costs depend on current rules, fees and your circumstances. Verify important decisions with official sources and a qualified adviser.
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