Calculators / Affordability
How Much House Can I Afford?
Estimate the home price you can target from your income, debts, and down payment. Educational estimate, not a pre-approval.
Estimated home price you can target
$0
Max monthly payment (PITI)$0
Loan amount$0
A guide only. Real approval depends on credit, program, reserves, and full underwriting. Run the full calculator to see the payment on a specific price.
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How this works
Lenders cap your total monthly debt at a share of income, called debt-to-income. This tool takes your target DTI, subtracts your existing debts, and solves for the largest home price whose full payment, including taxes and insurance, fits the budget.
What affordability really means
A lender's maximum and a comfortable budget are two different numbers. Qualification looks at gross income and documented debts. It does not see childcare, tuition, medical costs, travel, or how much you want to save.
The ratios behind the number
Most programs cap total monthly debt near 43% of gross income, and some allow more with strong credit and reserves. This tool solves for the price where your projected payment lands at the ratio you choose.
The payment is more than principal and interest
Property taxes, homeowners insurance, mortgage insurance, and HOA dues all count toward the ratio. In high-tax or high-HOA areas they can take a fifth of the payment and cut the price you qualify for.
Down payment moves two levers
More down lowers the balance and can remove monthly mortgage insurance at 20% equity. Draining savings to reach 20% leaves nothing for repairs, or for the reserves lenders like to see.
Budget past the closing
Plan for maintenance, utilities higher than a rental, and the furnishing and repair spending that follows most moves. A common approach is to set aside roughly 1% of the home's value each year for upkeep.
Frequently asked questions
How much house can I afford on my salary?
It depends on your income, debts, down payment, and rate. Lenders often cap total debt near 43% of gross income. This tool estimates the price that fits.
What DTI should I use?
Many programs allow up to about 43%, some more. A lower target leaves more monthly cushion.
How much income do I need for a $400,000 house?
It depends on your rate, taxes, insurance, and other debts. Enter your own numbers above rather than relying on a rule of thumb.
Does this include taxes and insurance?
Yes. Estimates that leave them out overstate what you can afford, often by a wide margin.
Should I borrow my maximum?
Many buyers deliberately target a payment below their approval so the budget still works if income, rates, or costs change.
Important disclosures. LoanFitCalc is a free educational tool that provides estimates only. It is not a loan, a loan approval, a commitment to lend, a rate lock, or an offer to make a loan, and it does not provide financial, legal, or tax advice or recommend a specific loan for you. Mortgage insurance rates, funding and guarantee fees, loan limits, taxes, and insurance figures are typical published values used for estimation and are subject to change. Program eligibility rules are summarized and simplified. Actual terms depend on your full application, credit, property, and lender underwriting. Consult a licensed mortgage loan originator before making any decision. LoanFitCalc is an independent educational website and is not a lender. ⌂ Equal Housing Opportunity
