Enter your income, monthly debt payments, and cash for a down payment to see the home price range a lender is likely to support.
Results update as you type — there is no submit button, no email wall, and no account. The interest rate field is pre-filled with the latest national average 30-year fixed rate published on our mortgage rates page, with the survey's publication date shown beneath it, and every field is editable. Inputs used: Gross annual household income, Existing monthly debt payments, Down payment (cash), Debt-to-income limit, Loan term, Interest rate, Property tax (annual % of price), Homeowners insurance (annual), HOA dues (monthly), ZIP code (optional).
A calculator does not know your credit profile, your documentation type, or the county tax assessment on a specific address. A licensed loan officer does. Send the exact scenario you just ran to a loan officer licensed in your state — free, with no account to create. Every loan officer shown is a LoanOfficer.ai user who opted into our loan officer directory, listed in even rotation with no paid placement.
Each loan officer card shows their photo, name, company, NMLS number, licensed states, specialties, and languages, with a link to their full directory profile and a "Start a conversation" chat window that opens a private thread with that loan officer, attaching the home price, down payment, loan amount, rate, term, and estimated monthly payment you just calculated. Their AI assistant replies in the chat within seconds, and every loan officer has their own separate conversation.
The calculator starts from your gross monthly income — annual income divided by 12 — and multiplies it by the debt-to-income limit you choose. That produces the maximum total monthly debt a lender would allow. Your existing monthly debt payments, such as car loans, student loans, credit card minimums, and child support, are subtracted from that ceiling. What remains is the largest housing payment the ratio supports.
Estimated property taxes, homeowners insurance, HOA dues, and mortgage insurance are removed from the available housing payment first, because they are part of the qualifying payment but do not buy any of the house. The remaining amount is the principal and interest budget, and the amortization formula is run in reverse at your rate and term to find the loan amount it supports. Adding your down payment to that loan amount gives the maximum home price.
Most automated underwriting decisions turn on the back-end ratio: all monthly debts, including the new housing payment, divided by gross monthly income. Common conventional approvals land in the mid-40s, FHA can stretch higher with compensating factors, and a conservative budget often sits below 40 percent. The calculator lets you move that limit so you can see both what you may qualify for and what you would actually be comfortable paying.
Affordability is not only a ratio. Underwriters also weigh credit score, reserves left after closing, income stability and documentation type, loan program limits, and — for self-employed borrowers — how income is calculated from tax returns or bank statements. Two people with identical income can qualify for very different amounts.
It depends on the program and the automated underwriting result. Many conventional approvals come back in the low-to-mid 40s, FHA can go higher with strong compensating factors, and jumbo lenders are usually stricter. Ask a loan officer to run your file rather than assuming one number.
Yes. Estimated taxes, insurance, HOA, and mortgage insurance are subtracted before the principal and interest budget is calculated, because lenders include all of them in the qualifying payment.
Rarely. The maximum is an underwriting limit, not a budget. Retirement contributions, childcare, tuition, travel, and maintenance on a larger home do not appear in a debt-to-income ratio but are very real once you own the house.
It raises the price you can buy at two ways: every dollar of down payment adds a dollar of price directly, and crossing 20 percent removes private mortgage insurance from the payment, freeing more room for principal and interest.
Usually yes. Most programs require a payment to be counted even when the loan is deferred, using either the documented payment or a percentage of the balance. The rule differs by program, which is why deferred student debt is worth reviewing with a loan officer.
These calculators are free educational tools. Results are estimates based on the numbers you enter and are not a loan offer, rate lock, or pre-approval. Taxes, insurance, HOA dues, and mortgage insurance vary by property and lender. Talk to a licensed loan officer for figures specific to your situation.