💰Affordability
Home Affordability Calculator
Determine your safe purchasing budget based on disposable household cash flow, revolving debt commitments, and standard 28/36 DTI limits.
💰Home Affordability & Purchasing Power
Calculate true purchasing capacity based on disposable household cash flow and 28/36 DTI limits.
$ / mo.
excl. mortgage
$ / mo.
$
%
Safe Monthly Payment:$2,700
Debt-to-Income Ratio:36 %
Maximum Borrowing:$438,513
Cash Buffer Retained:$10,000
Est. Closing Costs Buffer:$17,027
Monthly Cash Surplus:$1,950
Maximum Home Purchasing Budget:
$486,486
Assumes standard closing transaction reservesRate vs. Budget
Interest Rate Sensitivity
Maximum affordable purchase price at different mortgage rates
Ø Durchschnitt$506,329
Ø Durchschnitt:
Loan Amount:$441,329Deposit:$65,000
Loan Amount
Deposit
Income Trend
Income vs. Purchasing Power
Projected budget growth (blue) and loan capacity (green) across incomes
Ø Durchschnitt$528,855
Ø Durchschnitt:
Max Home Price:$528,855Max Loan:$482,364
Max Home Price
Max Loan
FAQ & Knowledge
Frequently Asked Questions: Affordability
Key mortgage guidelines, statutory fees, and investment benchmarks at a glance:
?What is the 28/36 debt-to-income (DTI) rule??
The 28/36 rule states that your housing costs (PITI) should not exceed 28% of your gross monthly income (front-end DTI), and total debt obligations should not exceed 36% (back-end DTI).
?How do property taxes affect my borrowing power??
Property taxes vary by state and county (from 0.3% in Hawaii to over 2.2% in New Jersey). High property taxes increase your monthly PITI escrow, directly reducing the maximum loan amount you qualify for.
?How does my student loan debt impact home affordability??
Lenders factor your monthly student loan payments into your back-end DTI. On income-driven repayment (IDR) plans, lenders typically use the actual payment reported on credit or 0.5% of the outstanding balance.
?How much down payment do I really need to buy a home??
While 20% eliminates PMI, conventional loans permit down payments as low as 3% for first-time buyers, and FHA loans require 3.5%. VA and USDA loans offer 0% down options for qualifying buyers.
?How much cash reserves should I keep after closing??
Lenders often require 1 to 3 months of PITI payments in liquid reserves. Financial planners recommend keeping 3 to 6 months of living expenses in an emergency fund post-closing.
?Can bonuses and commissions be counted toward qualifying income??
Yes, provided you have a documented 2-year history of receiving bonuses, commissions, or overtime with your employer and the income is reasonably expected to continue.
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