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How it works
Formula & explanation
House Affordability Calculator uses the following calculation:
MaxHousingPayment = (Income/12 × DTI%) − OtherDebt
This is a simplified model intended for planning and education. Real-world offers from lenders, institutions, or tax authorities may include additional fees, rules, or adjustments not reflected here.
FAQ
Frequently asked questions
What debt-to-income ratio do lenders typically allow?
Many conventional lenders cap total DTI around 36–43%, though some programs allow higher ratios with compensating factors.
Does this include property tax and insurance?
No, this is a simplified affordability estimate based on principal and interest; build in a buffer for taxes, insurance, and maintenance.
How much does a bigger down payment change affordability?
A larger down payment reduces the loan amount needed, which directly raises the home price you can afford at the same monthly payment.
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