Affordability Calculator
Work backwards from what you earn and what you already owe to a price range you can carry, and see which constraint binds first — the front-end ratio, the back-end ratio or the down payment.
Before tax, all borrowers combined.
Minimum payments on cards, cars, student loans, support orders.
Excluding closing costs and reserves.
Conventional minimum on this page: 3%
Illustrative — not a quoted rate.
Per year, share of price.
Per year, share of price.
Per month.
The first bar is the monthly housing budget the ratios allow. The rest is what a home at that price would cost each month.
A price you could carry
$507,052
Around $466,488 to $507,052 on these inputs
The housing ratio (36% of gross income) binds before the total-debt ratio does.
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Every figure you entered is in the address bar, so the link below reopens this page with exactly these numbers.
Ask a human about these numbers
A calculator cannot see your credit file, your assets or the property. A loan officer can.
Jeremy personally reviews every request. 60-minute response times during operating hours.
How to use the affordability calculator
Enter your gross monthly income (before taxes) and your other monthly debt payments, such as car, student loan and card minimums.
Add the cash you have for a down payment.
Pick a loan program, then set the interest rate and loan term.
Add estimated property tax, homeowners insurance and HOA dues.
Read the price you could carry and which limit binds first: your income or your cash.
Terms used in this calculator
- Debt-to-income ratio (DTI)
- Your monthly debt payments divided by your gross monthly income. Lenders use it to judge how much payment you can handle.In the glossary : Debt-to-income ratio (DTI)
- Housing ratio
- The share of your gross monthly income that goes to the new housing payment alone (principal, interest, taxes, insurance and HOA). It is sometimes called the front-end ratio.
- Total-debt ratio
- Your housing payment plus all other monthly debts, as a share of gross income. It is often called the back-end ratio and is usually the one that limits buyers.
- Gross monthly income
- Your income before taxes and deductions. Lenders qualify you on gross, not take-home, pay.
- Down payment
- The cash you put toward the purchase price up front. The rest is the loan amount.In the glossary : Down payment
- Cash to close
- The total cash you need at closing: the down payment plus closing costs and prepaid items, minus any credits.In the glossary : Cash to close
- Loan program
- The type of loan, such as conventional, FHA or VA. Each has its own guidelines for down payment and debt ratios.
Frequently asked questions
It depends mainly on your total monthly debts compared with your gross income, plus the cash you have for a down payment. This calculator applies typical program guidelines to both and shows which one limits you first. Treat it as a starting point; pre-approval confirms the real number.
Your income may support a larger payment, but your down payment savings only stretch to a certain price at the program's minimum down payment. Down payment assistance, gift funds or a lower-down-payment program can change that, and Jeremy can check what you qualify for.
Include the minimum monthly payments that show on your credit report, such as car loans, student loans, credit cards and personal loans. Don't include utilities, phone bills, insurance or groceries, because lenders don't count them as debts.
No. Lenders qualify you on gross income before taxes, which is why this calculator asks for that figure. Your own budget should still be based on take-home pay so the payment feels comfortable.
Yes. FHA, VA and conventional loans use different debt-ratio guidelines and minimum down payments, so the same income can support different prices. Switch programs here to compare.
No. This is an estimate from the numbers you enter. A pre-approval reviews your credit, income documents and assets, so it is the figure sellers and agents rely on. You can start one through Jeremy's online application.
More questions? See the full FAQ or request a personalized quote.