How much home can I afford?
An honest estimate based on your income, your existing debts and your down payment — with the full monthly payment broken out, not just one big number.
Your situation
You set this. It is for estimating only — not a rate offered or quoted. Percent of home value per year.
using FHA
An estimate only — not a pre-qualification, an approval, or a commitment to lend. The rate shown is the one you entered, not a rate offered or quoted. What you can actually borrow depends on underwriting: credit, employment history, assets, the property and its appraisal. The debt limits used here are general guidelines and vary by lender and scenario. Equal Housing Opportunity.
What this calculator assumes
The debt limits it uses
- FHA — 3.5% minimum down, 43% total debt
- Conventional — 5% minimum down, 45% total debt
- VA — 0% down, 41% total debt, if eligible
These are conservative guidelines. With compensating factors, lenders often go higher.
What the debt ratio means
Front-end is just the house payment divided by your income. Back-end adds all your other debts on top. Back-end is usually the one that decides.
What is not included
- Closing costs
- Reserves after closing
- Maintenance and repairs
- Financed FHA or VA upfront fees