Home Affordability Calculator
See how much house your income supports, stress-test three scenarios, and find out exactly how much cash you need at closing.
Income and Debts
$100,000
$20,000$500,000
$500.00
0$5,000
Typical rate for Good (700–759): 6.5% – 7.25%
Down Payment and Loan
$60,000
0$300,000
14.2% of the estimated home price — PMI will apply until you reach 20% equity
6.875%
312
Min down: 3% | PMI: PMI if <20% down
Most common loan type. PMI drops at 20% equity.
Estimated Monthly Costs
$250.00/mo
0$2,000
$150.00/mo
50500
$0.00/mo
0$1,000
3%
16
Affordability Range
Monthly Payment Breakdown
Principal and Interest$2,374.14
Property Tax$250.00
Homeowners Insurance$150.00
PMI$225.88
Total Monthly$3,000.02
36.0% of your gross monthly income
Cash Needed to CloseTotal upfront cash required: down payment plus closing costs plus a two-month payment reserve most lenders require.
Down Payment$60,000.00
Closing Costs (3%)$12,642.02
2-Month Reserve$6,000.04
Total Cash Needed$78,642
Debt-to-Income RatiosFront-end DTI is your housing costs divided by gross income. Back-end DTI includes all debts. Lenders use both to evaluate your application.
Front-end (housing only)36.0% / 36% limit
Back-end (all debts)42.0% / 45% limit
Your front-end (housing) DTI is the binding limit. Increasing income or reducing tax/insurance expenses would have the most impact.
Typical approval range with good credit.