Calculators / How Much House Can I Afford?

How Much House Can I Afford?

The most you can spend on a home for your income, debts and down payment, using the limits lenders apply.

Yearly income before taxes

Everyone on the loan, before taxes.

Monthly debt payments

Car loans, student loans, minimum card payments, child support. Not rent or utilities.

Down payment

Cash you'll put toward the price.

Interest rate

Loan term

Type of loan

FHA, VA and USDA fees and mortgage insurance are worked out for you.

Taxes and costs

Property taxes

Percent of the home price per year.

Homeowners insurance

Percent of the home price per year.

Private mortgage insurance (PMI)

Conventional loans with under 20% down: percent of the loan per year.

HOA dues per month

Closing costs

Percent of the price, paid in cash on top of the down payment.

Lender limits

Maximum housing payment, as % of income

The front-end ratio. 28% is the classic guideline.

Maximum total debt payments, as % of income

The back-end ratio, housing plus other debts. Lenders allow 36% to 45%, sometimes 50%.

Reset

Please check these:

Your debt payments already use 41.7% of your income, more than the 36% limit, so there's no room for a mortgage. Paying down debt or raising the limit would change that.

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