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U.S. Home-Budget Scenario Planner

Home Affordability Calculator

Estimate a home price from the tighter of your own housing and total debt-to-income targets while including the full monthly housing cost and down-payment cash plan.

✓ Custom DTI targets✓ Complete housing costs✓ Cash-to-close estimate✓ Rate sensitivity

Calculator

Estimate an affordable home price

Enter targets that match the scenario you want to test. The tool does not assume one universal lender threshold.

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Mortgage insurance is estimated only when the calculated loan-to-value ratio is above 80%. Confirm actual costs, eligibility and cancellation rules.

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How this home affordability calculator works

The tool converts annual income to monthly gross income, applies your housing and total-DTI targets, subtracts existing debts and cushion, then solves for the home price whose estimated monthly housing cost fits the tighter budget.

For a known home price, use the Mortgage Calculator. To inspect income and debt components directly, use the Debt-to-Income Calculator.

Your targets stay visible: CFPB guidance notes that DTI limits differ by product and lender, so this calculator does not label one percentage as universal.

Monthly housing costs included

The estimate includes principal, interest, property tax, homeowners insurance, mortgage insurance when the calculated LTV exceeds 80%, and HOA dues. The CFPB describes principal, interest, taxes and insurance as core payment components and advises looking beyond principal and interest.

Price and rate sensitivity

A numerical solver adjusts home price until the monthly cost reaches the tighter target. The comparison table repeats the same process at higher illustrative rates so the effect of rate assumptions is visible.

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Down payment and cash estimate

Choose a percentage or fixed dollar down payment. Optional closing costs are added to down payment for a separate cash estimate and are not financed.

Important limitations

  • This is not preapproval or an underwriting decision.
  • Income and debts are not verified.
  • Taxes, insurance, HOA dues, mortgage insurance and closing costs can vary.
  • Credit, assets, loan type, reserves and other living expenses are outside the solver.

Home affordability calculator FAQs

The tool finds the price whose estimated housing cost fits the tighter of your entered housing-DTI and total-DTI budgets after debts and cushion.
Principal, interest, entered property tax, homeowners insurance, estimated mortgage insurance and HOA dues are included.
Different products and lenders use different limits. Entering targets keeps the planning assumption visible rather than presenting one limit as universal.
An optional closing-cost percentage is added to the down payment for a separate estimated cash-at-closing figure, but it is not financed.
No. Lenders verify income, debts, assets, credit, property information, loan rules and other repayment factors.

Sources and methodology

CFPB — Decide how much to spend on a homeGuidance on total monthly payment and estimating an affordable loan amount.CFPB — Total monthly mortgage paymentExplains principal, interest, taxes, insurance and other housing costs.CFPB — Debt-to-income ratioDefines DTI and notes that limits vary.
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Related finance calculators

Mortgage CalculatorEstimate a payment for a known price.Debt-to-Income CalculatorBreak down monthly income and debts.Amortization CalculatorInspect principal and interest over time.