House Affordability Calculator
This shows the highest home price your monthly numbers support, at a share of income you set, and the income needed for a price you choose. It is a math check, not a lender's decision.
- Free
- Works offline after your first visit
- Saves on this device
- No sign-up
- Updated
How it works
The monthly room is gross monthly income times the share you set, minus your other monthly debt payments. The loan that payment supports is found with the standard loan formula. Adding the down payment gives the highest price.
For the price you choose, the page works out the monthly payment and the yearly income that would put that payment at the same share of income.
Worked example
With $90,000.00 a year, $600.00 of other debt each month, and a share of 36%, the monthly room is $2,100.00. That supports a price of $392,242.72 with $60,000.00 down. A $350,000.00 home needs about $81,099.91 a year.
Questions
Is this what a lender will offer?
No. It is only the math. A lender reviews your full credit and debts and may reach a different answer.
Should I use gross or take-home income?
Lenders usually use gross income, before tax. Use gross here to match that.
Why does the share matter so much?
A higher share leaves more room for a payment. A lower share keeps more income for other costs. Change it to see both.
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