House Affordability Calculator
Find how much house you can afford from your income and debts under conventional, FHA or VA limits, or from a monthly budget.
Change the values and press Calculate to work out your own figures.
From your income
Enter your income, debts, down payment and the loan.
Show the working
- budget = min(front ratio × income, back ratio × income − debts) ÷ 12
- price = (budget − HOA) ÷ ((1 − down) × (payment factor + PMI) + (tax + insurance) ÷ 12)
From a monthly budget
Enter what you can spend a month in all.
Show the working
- budget = min(front ratio × income, back ratio × income − debts) ÷ 12
- price = (budget − HOA) ÷ ((1 − down) × (payment factor + PMI) + (tax + insurance) ÷ 12)
How to use it
Enter your income, debts, down payment and the loan. Enter what you can spend a month in all.
Enter amounts without commas or with them; rates are percentages (5 for 5%). Negative amounts are allowed where a sign means money paid out.
Key facts
housing budget = min(front ratio × income, back ratio × income − debts) ÷ 12 price = (budget − HOA) ÷ ((1 − down) × (payment factor + PMI) + (tax + insurance) ÷ 12)
Limits
These are lenders' usual limits, not what is comfortable: many people aim for housing under 25% of take-home pay.
Questions
How much house can $120,000 a year afford at 7.51% with 20% down?
About $385,000 under the 28% rule.
Formulas
housing budget = min(front ratio × income, back ratio × income − debts) ÷ 12 price = (budget − HOA) ÷ ((1 − down) × (payment factor + PMI) + (tax + insurance) ÷ 12)
Sources
Limitations
- Results are estimates for planning, not offers or financial advice; lenders and banks may round, count days or time payments differently.
- Rates are nominal annual rates compounded as you choose; payments at a different frequency use the equivalent periodic rate.