House Affordability Calculator
Estimate a home price using income ratios or a fixed housing budget.
Solve a home price from a housing payment budget including taxes and insurance.
Result
Affordability is based on the explicit ratios entered, not a lender approval. Insurance, property tax, HOA and maintenance use the selected dollar or percentage units. Percentage amounts are annual percentages of the solved home value. Mortgage insurance remains excluded; include it in the other-expense budget if applicable.
How to use this calculator
Solve a home price from a housing payment budget including taxes and insurance. Enter amounts in the units shown, select the applicable options, and click Calculate. Use Reset to restore the starting values.
Calculation formula
Budget = mortgage payment + annual property tax/12 + monthly insurance and HOA.
Assumptions and accuracy
Review timing, rates, fees and result notes when comparing scenarios. Future returns and rates are assumptions rather than guaranteed outcomes. Monetary display follows the currency’s precision; intermediate calculations retain additional digits.
Choose what to calculate
Home affordability calculator
Estimate a home-price budget from income, existing debts, down payment and entered ownership costs. Housing ratios are planning assumptions, not lender approval.
Related searches: How much house can I afford calculator · House affordability calculator
Open this calculationUnderstanding this calculation
An affordability estimate converts an entered housing budget into a home price after down payment, loan interest and ownership costs. It is not a mortgage approval or an appraisal.
Reading your result
- Monthly housing budget
- The spending ceiling under the entered housing and total-debt ratios, or the budget you supply.
- Estimated home price
- The price that fits the modeled loan payment and selected ownership costs.
- Down payment
- Cash applied to the purchase price; closing costs may require additional cash.
Compare two scenarios
- Compare two interest rates while keeping income, debts, down payment and ownership costs unchanged.
- Then test the effect of taxes and insurance separately, rather than changing every input at once.
Check before comparing
- Verify whether down payment and annual ownership costs are dollars or percentages.
- An insurance cost must be entered if needed; mortgage insurance is not automatically underwritten.
- Qualification also depends on lender rules and information outside this budget model.
Result explanations checked against this calculator’s local model. Model scope and sources appear below.
Worked examples
Translate a monthly housing budget into a home price
Illustrative inputs are specified in the steps below; the example link loads the complete settings. Unmentioned settings use the linked defaults.
- With no interest, down payment or ownership costs in this illustrative case, 1,000 × 12 × 10 = 120,000.
Estimated home price: 120,000 USD.
Try these inputsUse a dollar down payment and fixed housing costs
Monthly budget $2,000; $20,000 down; ten-year zero-interest loan; annual tax $2,400, insurance $1,200 and maintenance $600; monthly HOA $100.
- Fixed monthly costs = 200 + 100 + 50 + 100 = 450.
- Mortgage budget = 2000 − 450 = 1550; loan amount = 1550 × 120 = 186000.
- Home price = 186000 + 20000 = 206000.
The modeled home price is $206,000; this is a budget calculation, not a lender approval.
Try these inputsCommon questions
How much house can I afford with existing debt?
In income mode, other monthly debt reduces the amount available under the back-end ratio. A housing-only income percentage can otherwise overstate your budget.
Why does a higher property tax rate reduce affordability?
Tax uses part of the same monthly housing budget, leaving less money for mortgage principal and interest.
Scope and assumptions
Debt ratios are user-selected planning assumptions, not lender approval. Credit, reserves, mortgage insurance and local underwriting can impose other constraints.
Sources
- Calculation methodology, rule versions and testing limitations
- Reference calculator for feature comparison (not a model-parity certification)
Calculation notes checked . Examples are mathematical checks under the stated assumptions.
Calculation methods and formulas
Based on Income
Solve a home price from a housing payment budget including taxes and insurance.
Budget = mortgage payment + annual property tax/12 + monthly insurance and HOA.
Based on Monthly Budget
Solve a home price from a housing payment budget including taxes and insurance.
Budget = mortgage payment + annual property tax/12 + monthly insurance and HOA.
See our calculation methodology and review status for data versions, rounding and validation limitations.