Tool-15 // Home Affordability Calculator
See the maximum home price you qualify for based on your income, debts, and lender guidelines — not what a realtor tells you.
Total pre-tax income from all earners.
Car loans, student loans, credit card minimums, etc.
How much cash you have for a down payment.
Current 30-year fixed rate.
Annual property tax as percentage of home value.
Shorter terms mean higher payments but less total interest.
Lenders typically cap housing at 28% of gross income and total DTI at 36%.
Educational estimates only — not personalized financial advice. Calculator inputs stay on your device. Disclaimer · Privacy
// How to use this instrument
Plain-English guide for Home Affordability Calculator. Read alongside your results — then re-run scenarios.
Rough max home price from income, debts, down payment, rate, DTI-style rule.
This Home Affordability Calculator runs entirely in your browser. Calculator inputs stay on your device and are not stored on TopMoneyTools servers as account data.
Outputs are educational planning estimates. They do not replace lender quotes, tax software, insurance underwriting, or licensed advice.
Reach for this tool when: Pre-approval education; shopping range setting.
Use more than one scenario. Changing rate, timeline, or spending often moves the answer more than people expect.
If you are close to a major decision (home purchase, retirement date, large debt payoff), treat this as a pre-conversation tool — then verify with primary documents and a professional who knows your full situation.
How to use it: Gross income → monthly debts → down payment → rate → term → rule (e.g. 28/36-style if you use it).
Label units carefully (monthly vs annual income, APR vs monthly rate).
After the first run, stress-test: higher rate, lower return, shorter timeline, or higher expenses. The range matters more than one precise output.
How to read results: Comfort range vs bank maximum (use lower).
If a result looks surprising, re-check units, whether taxes/fees are included, and whether you modeled best-case assumptions only.
Use related guides and tools below to cross-check the story from another angle.
Educational estimates only — not personalized financial advice. Results depend on your inputs. Disclaimer · Privacy · Terms.
Most conventional lenders follow the 28/36 rule: housing costs shouldn't exceed 28% of your gross monthly income, and total debt payments (including housing) shouldn't exceed 36%. These are ceilings, not targets — less is better.
DTI is one of the biggest factors in mortgage approval. Even with a great credit score, high existing debt payments can severely limit what you qualify for. Paying down debt before applying can increase your buying power significantly.
Just because a lender says you can afford a certain home doesn't mean you should buy at that price. The lender doesn't account for your lifestyle, savings goals, or childcare costs. A good rule of thumb: keep housing under 25% of take-home pay.
Want to understand the concepts behind these numbers?
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