Home Affordability Calculator
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$20,000$500,000
$
Car, student loan, minimum credit card payments (not rent)
$
$0$500,000
%
Loan term
%/yr
$/yr
$/mo
Budget rule
You can afford a home up to
$338,068
Monthly housing payment
$2,333
Loan amount
$278,068
Down payment
17.7%
Debt-to-income (all debts)
33%
Housing is capped at 28% of your gross monthly income of $8,333. With less than 20% down, PMI (estimated at 0.5% of the loan a year) is included.
An estimate, not a loan approval. Lenders also look at your credit score, savings and job history; keep an emergency fund and money for closing costs (often 2–5% of the price).
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