Estimate a home price that fits your monthly budget. Start with household income and monthly debts, or enter a housing budget directly. Adjust your down payment, mortgage rate, term, and estimated homeownership costs to compare scenarios.
Income-based and budget-based estimates • Editable assumptions • Monthly cost breakdownYour estimated home budget
Estimated monthly housing breakdown
How the budget is allocated
How the house affordability calculator works
The income method estimates a monthly housing limit from gross household income, your selected housing-cost ratio, the total-debt ratio, and existing monthly debt payments. The budget method starts with the monthly amount you enter.
What the estimate includes
- Estimated mortgage principal and interest based on your selected rate and term.
- Property tax estimated as a percentage of the home price.
- Home insurance, HOA fees, maintenance, and other costs you enter.
- Optional mortgage insurance when your down payment is below 20%.
Are the ratio settings mortgage approval rules?
No. The ratios are editable planning assumptions. Lenders use different criteria based on location, loan type, credit, income, assets, and other factors. This estimate does not determine eligibility or approval.
How is the home price estimated?
The calculator finds a home price whose estimated monthly mortgage payment and selected housing costs fit within the monthly budget. Down payment is modeled as a percentage of the purchase price.
What costs are not included?
Closing costs, utilities, repairs beyond your maintenance estimate, mortgage rate changes, lender fees, and location-specific rules may affect actual affordability. Enter realistic estimates and keep a comfortable monthly buffer.
This tool is for general planning and is not a loan offer, underwriting decision, or financial advice.