Mortgage Affordability Calculator | How Much House Can I Afford?

Household Budget Analysis

Home Affordability Calculator

Find out how much house you can afford based on your monthly gross income, saved cash deposits, and monthly debt services.

Your Financial Profile






Maximum Purchase Price

$386,000

Estimated Max Loan Amount:
$336,000
Max Monthly Housing Budget (DTI limit):
$2,240

Estimated PITI Budget Breakdown

Principal & Interest (P&I):
$1,794
Property Tax Estimate:
$386
Homeowner’s Insurance:
$96
Mortgage Insurance (PMI):
$140

How Much House Can I Afford? The DTI Rules

When underwriting mortgage files, traditional banking groups evaluate home affordability using two Debt-to-Income (DTI) thresholds:

  1. Front-End DTI Ratio (28%): Housing costs (Principal, Interest, Taxes, and Insurance) should not exceed 28% of your gross monthly income.
  2. Back-End DTI Ratio (36%): Total debt payments (housing costs + car payments + student loans + credit card minimums) should not exceed 36% of your gross monthly income.

Our algorithm evaluates both ratios and isolates the lower of the two limits, establishing a safe parameters profile. By boosting your credit score or reducing monthly installment debts, you can raise your maximum affordability value.

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