Determine how much house you can afford based on your income, debts, and down payment using the 36% DTI rule.
Financial Profile
Car, student loans, credit cards
Affordability Results
Maximum Home Price$297,625
Est. Monthly Payment (PITI)$2,050
Monthly Payment Breakdown
About this calculator
Overview
Home affordability is primarily determined by your Debt-to-Income (DTI) ratio. Lenders look at how much of your gross monthly income goes toward housing costs and other debts.
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Pro Tips
A higher down payment reduces your monthly costs and can help you avoid Private Mortgage Insurance (PMI).
Don't forget to budget for maintenance, utilities, and repairs, which aren't included in PITI.
Interest rates significantly impact your buying power; a 1% increase in rate can reduce your affordability by ~10%.
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Fun Facts
Formula: The 28/36 Rule: Housing costs < 28% of income, total debt < 36% of income.
