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Knowing how much house you can afford prevents overextending your finances. This calculator uses your income, existing debts, and down payment to estimate your maximum affordable home price while keeping your debt-to-income ratio in check.
Home Affordability Calculator
Car payments, student loans, credit cards, etc.
Maximum debt-to-income ratio
Results
Max Home Price
$310,000.00
Max Loan Amount
$260,000.00
Estimated Monthly Payment
$2,043.79
Monthly Income
$7,083.33
Current DTI
7.06%
Down Payment %
16.13%
Visualization
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How It Works
We calculate the maximum mortgage payment that keeps your total debt-to-income (DTI) ratio below the threshold (typically 36%). Then we reverse-engineer the maximum loan amount from that payment, adding your down payment for the total home price.
Formula
Max Housing Payment = (Monthly Income × Max DTI%) - Monthly Debts; Max Loan = reverse PMT formula; Max Home Price = Max Loan + Down PaymentAssumptions
- DTI limit of 36% (adjustable)
- Property tax estimated at 1.2% of home value
- Insurance estimated at 0.35% of home value
- Fixed interest rate throughout loan term
Frequently Asked Questions
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