How Much Home Can I Afford?
Calculate your maximum home price based on income, debts, and down payment. Get your affordable price range in seconds.
Your Financial Details
Monthly: $8,333
Car loans, credit cards, student loans, etc.
Your Affordable Price Range
Maximum Home Price (43% DTI)
$609,771
Down Payment: $121,954 (20%)
Loan Amount: $487,817
Conservative Estimate (36% DTI)
$494,409
Down Payment: $98,882 (20%)
Loan Amount: $395,527
Recommended: This safer DTI ratio provides more financial cushion
Estimated Monthly Payments
💡 Tips to Increase Affordability
- •Increase down payment to 20% to avoid PMI
- •Pay down existing debts to improve DTI ratio
- •Shop for lower interest rates (0.5% = significant savings)
- •Consider FHA loans with 3.5% down payment
How This Calculator Works
Income Analysis
We calculate your maximum monthly housing payment based on industry-standard debt-to-income ratios (36%-43%).
Debt Consideration
We subtract your existing monthly debts to determine available housing budget. Lower debts = higher affordability.
Loan Calculation
Based on your down payment and interest rate, we calculate the maximum home price you can afford.
Important Disclaimers:
- Estimates Only: This calculator provides estimates for informational purposes. Actual affordability depends on credit score, employment history, assets, and lender requirements.
- DTI Standards: Most lenders use 43% max DTI, but some programs allow up to 50%. The 36% estimate is conservative and recommended for financial safety.
- Additional Costs: Home affordability includes property taxes, insurance, HOA fees, utilities, and maintenance not shown in this calculator.
- Pre-Approval Required: Get an official pre-approval letter to confirm your actual buying power and strengthen your offers.
Get Your Exact Numbers: Contact Jimmy Joseph MBA at (908) 698-0150 for a personalized affordability analysis with current rates.