House Affordability Calculator FAQ
How much house can I afford based on income?
Use the Based on income and debt mode. Enter annual household income, monthly debt payments, mortgage rate, loan term, down payment, and housing-cost assumptions. The calculator applies the selected DTI rule and estimates the highest house price that fits the stricter income limit.
How much house can I afford based on a monthly budget?
Use the Based on monthly housing budget mode. Enter the budget you want to spend and decide whether that budget should already include taxes and fees. The calculator then estimates the maximum house price and shows how the budget is split across mortgage payment, taxes, insurance, fees, and maintenance.
What are front-end and back-end DTI ratios?
Front-end DTI compares total housing cost with gross monthly income. Back-end DTI compares housing cost plus other monthly debt payments with gross monthly income. When a rule uses both, this calculator applies the stricter limit.
Does the calculator include taxes, insurance, HOA, or maintenance?
Yes. Property tax, home insurance, and community or building fees can be included in both modes. In budget mode you can also include maintenance, either as a percent of home value per year or as a fixed annual amount.
Can I use percentages or fixed amounts for housing costs?
Yes. Down payment, property tax, insurance, and maintenance support either a percentage-based assumption or a fixed amount. This helps when you know a local tax rate, but also works when you only have a rough annual cost estimate.
Is the affordable house price the same as the mortgage amount?
No. The calculator separates the house price, the required down payment, and the estimated mortgage loan amount. The mortgage amount is the portion financed after subtracting the down payment.
Are these results exact lender approvals?
No. The results are planning estimates only. Actual approval can differ because lenders may consider credit score, cash reserves, closing costs, PMI, fees, taxes specific to the property, underwriting rules, and changes in interest rates.
