Home Affordability Calculator

Household income before tax, per month — the base both lender ratios are applied to.

Monthly payments on existing obligations — car loans, student loans, card minimums. They eat into the total-debt budget and shrink the affordable payment.

Cash available up front. It is added on top of the largest supportable loan to give the maximum affordable price.

The yearly interest rate in percent, as quoted by the bank or lender — enter 5 for 5%.

Even a fraction of a percent compounds into a visible difference over a long term, so it pays to compare offers.

The mortgage term used to convert the affordable payment into a loan amount — a longer term supports a larger loan.

The maximum share of gross income allowed for housing costs alone — 28% in the classic 28/36 lending rule.

The maximum share of gross income allowed for all debt payments combined — 36% in the classic rule. The stricter of the two limits decides the result.