Home Affordability Calculator
Estimate a purchase price using a 28/36 debt-to-income budget. Enter your income, down payment and other debt to see the price and monthly payment that fit.
With $150,000 annual income, $500 monthly debt and $60,000 down, the model estimates a price of $483,756 and a $3,500 monthly payment.
Purchase prices under the model
| Household income | Price at 6% | Price at 6.5% | Payment at 6.5% | Price at 7% |
|---|---|---|---|---|
| $75,000 | $250,773 | $241,878 | $1,750 | $233,498 |
| $100,000 | $334,364 | $322,504 | $2,333 | $311,331 |
| $150,000 | $501,546 | $483,756 | $3,500 | $466,996 |
| $200,000 | $668,729 | $645,008 | $4,667 | $622,662 |
Turn a loan estimate into a household budget
The tool starts with two monthly allowances: 28% of gross income, and 36% minus other debt payments. It uses the smaller amount for housing, then solves for a price whose mortgage, tax, insurance and dues fit.
Check the modeled payment against take-home pay after saving, childcare, and other expenses. Then get local estimates for property tax, insurance, repairs, and closing costs. Keep a cash reserve after the down payment; meeting a debt ratio does not mean the payment fits your life.