Affordability Calculator
Find out how much home you can afford based on your income and expenses
Your Financial Details
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$30K$300K
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$0$5K
Include car loans, credit cards, student loans, etc.
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$0$200K
%
years
Maximum Home Price
$353,974
Based on 28% of your gross monthly income
Max Loan
$303,974
Monthly Payment
$1,867
Debt-to-Income Ratio
35.5%
✓ Excellent ratio - Strong borrowing position
Affordability Breakdown
Monthly Income (Gross)$6,667
Max Housing Payment (28%)$1,867
Other Monthly Debts$500
Down Payment Available$50,000
Max Home Price$353,974
Understanding These Numbers:
- • 28% Rule: Housing costs shouldn't exceed 28% of gross income
- • 36% Rule: Total debt shouldn't exceed 36% of gross income
- • Lenders may approve higher ratios with strong credit
- • Remember to budget for property tax, insurance, maintenance