House Affordability Calculator

🏡 Financial Profile

Enter your financial details for home affordability analysis

Income Information

Monthly Gross Income ($)

Additional Monthly Income ($)

Monthly Debt Obligations

Credit Card Payments ($)

Car Loan Payments ($)

Student Loan Payments ($)

Other Monthly Debts ($)

Down Payment and Savings

Available Down Payment ($)

Estimated Closing Costs ($)

Loan Terms

Interest Rate (%)

Loan Term (years)

Down Payment (%)

Estimated Monthly Housing Costs

Property Tax (annual $)

Home Insurance (annual $)

HOA Fees (monthly $)

Utilities (monthly $)

📊 Affordability Analysis

Your home buying budget and recommendations

Enter your financial information to see home affordability analysis

📈 Monthly Payment Breakdown

Complete housing payment structure

📊 Debt-to-Income Analysis

Current vs projected debt ratios

Understanding Home Affordability

Home affordability depends on multiple factors including income, debts, down payment, and ongoing housing costs. Lenders typically use debt-to-income ratios to determine loan eligibility.

28/36 Rule

Spend no more than 28% of gross income on housing costs and 36% on total debt payments for optimal financial health.

Down Payment Impact

Larger down payments reduce monthly payments, eliminate PMI, and increase buying power while building instant equity.

Total Housing Costs

Include principal, interest, taxes, insurance, HOA fees, utilities, and maintenance in your budget calculations.

Credit Score Impact

Higher credit scores qualify for better interest rates, significantly reducing total loan costs over time.

Advanced House Affordability Calculator