House Affordability Calculator
Determine how much house you can afford based on your financial situation
๐ House Affordability Calculator
Calculate how much house you can afford using two different methods: income-to-debt ratio or fixed monthly budget. Professional tools designed for U.S. residents.
๐งฎ Income-to-Debt Ratio Calculator
Estimated Affordable Price
$0
๐ Quick Results
Maximum Affordable Price
$0
Monthly Payment
$0
Down Payment
$0
* Real-time calculation, updates automatically as you type
๐ Current Rates
30-Year Fixed
6.63%
15-Year Fixed
5.627%
10-Year Fixed
5.46%
๐ Home Affordability Knowledge
๐
Front-End Ratio
Housing expenses รท Gross income
โค 28% (Conventional)
โค 31% (FHA)
๐ณ
Back-End Ratio (DTI)
Total monthly debt รท Gross income
โค 36% (Conventional)
โค 43% (FHA)
โค 41% (VA)
๐ฏ
Debt-to-Income Ratio (DTI)
DTI ratio is the percentage of your monthly gross income that goes toward paying your total monthly debt payments. It's the most important factor lenders use to determine how much home you can afford.
Calculation Formula:
DTI = (Total Monthly Debt Payments รท Gross Monthly Income) ร 100
Example: If your monthly income is $6,000 and debt payments are $1,800, your DTI is 30%.
๐ฆ
Loan Types & Requirements
Conventional Loan
Most CommonFront-end: โค 28%
Back-end: โค 36%
Down payment: Usually 5-20%
Credit score: 620+ preferred
FHA Loan
More FlexibleFront-end: โค 31%
Back-end: โค 43%
Down payment: As low as 3.5%
Credit score: 580+ accepted
VA Loan
Veterans OnlyBack-end: โค 41%
Down payment: Possibly $0
No PMI required
Eligible veterans
๐ก
Tips to Improve Affordability
Immediate Actions
- โ Pay down existing debt
- โ Increase down payment amount
- โ Shop for better interest rates
- โ Consider longer loan terms
Long-term Strategies
- โ Increase income
- โ Improve credit score
- โ Save more for down payment
- โ Consider different areas
๐ก Pro Tip: Improving your credit score by just 1% could save you thousands of dollars in interest over the life of your loan.