Financial Planning
Property Affordability Calculator
Find out how much home you can comfortably afford.
Annual Gross Income
$
Combined household income before tax
Other Monthly Debts
$
Car loans, credit cards, student loans, etc.
Down Payment Available
$
Cash you'll put toward the purchase upfront
Loan Term
Length of the mortgage repayment period
Mortgage Interest Rate
6.5%
Annual interest rate on the mortgage
Property Tax + Insurance
1.5%
Combined annual rate, as % of home price
Max Debt-to-Income Ratio
36%
Total monthly debt (incl. housing) as a share of income — lenders typically cap this at 36-43%
DTI Used
0%
Max Affordable Home Price
$0
based on your income and debts
Loan Amount
$0
Monthly Principal & Interest
$0
Monthly Tax & Insurance
$0
Total Monthly Payment
$0
📊 Affordability Breakdown
| Item | Amount | % of Monthly Income |
|---|
How the formula works
Home Price = (Housing Budget + Down Payment × PI Factor) ÷ (PI Factor + Tax&Ins Factor)
- Housing Budget = (Monthly Income × Max DTI%) − Other Monthly Debts
- PI Factor = monthly rate ÷ [1 − (1 + monthly rate)⁻ⁿ], where n = term in months
- Loan Amount = Home Price − Down Payment
- Monthly Principal & Interest = Loan Amount × PI Factor
- Monthly Tax & Insurance = Home Price × (Tax+Insurance Rate ÷ 12)
- This is an estimate — actual lending limits depend on your lender's specific criteria