Affordability calculator
Mortgage Affordability Calculator
Use the affordability calculator to estimate a home price range from monthly income, debt obligations, cash available, and a target DTI ratio.
Example Use
Example: a household with $9,500 in monthly gross income, $650 in monthly debts, $70,000 available for down payment, and a 36% target DTI can compare a conservative budget against lender maximums.
What it estimates
The calculator estimates a home price that fits within a target debt-to-income ratio after existing debts. It also estimates the housing payment and loan amount at that price.
The result is a planning number. It does not account for every underwriting factor, credit profile, reserve requirement, or loan program rule.
How to use the result
Start with a conservative DTI, then test how the price changes as the DTI rises. The difference shows how much budget room you give up as you stretch.
Keep emergency savings, repairs, closing costs, moving costs, and future tax or insurance increases in the conversation.
FAQs
What is DTI?
DTI compares monthly debt obligations with gross monthly income.
Should I borrow the maximum?
Not automatically. A lender maximum can be higher than a comfortable household budget.
Does this replace preapproval?
No. Use lender preapproval for loan-specific guidance.
Run the numbers