How much house can I afford?

Work backwards from your income and existing debts to a realistic price range.

Read this before the numbers

The interest rate on this page is a number you choose so you can model a payment. It is not a rate being quoted to you, not an advertisement of terms, and not an offer or a commitment to lend.

Your actual interest rate and APR depend on your credit, loan program, occupancy, property type, loan amount, down payment, and the market at the time you lock. Rates, terms and program availability change and are subject to credit approval. The real figures arrive on a Loan Estimate after you apply — that is the document to compare, not a calculator.

Erik Miller, Mortgage Expert · NMLS #263103 · Patriot Home Mortgage · Company NMLS #715386 · Licensed in Arizona · Equal Housing Lender

You could afford about

—home price

Loan amount—

Monthly payment—

Principal & interest—

Taxes & insurance—

Mortgage insurance—

Housing budget at this DTI—

This is what the guidelines allow, not necessarily what is comfortable. Plenty of people deliberately buy below their maximum — that is a good instinct, not a wasted opportunity.

Estimates for planning only. Not a commitment to lend.

Common questions

Questions we get asked

Is the maximum the amount I should spend?

No. It is a ceiling, not a target. The calculator shows what underwriting will allow based on your income and debts. Whether that payment leaves room for savings, childcare, travel and the occasional repair is a separate question, and only you can answer it.

What is debt-to-income and why does it cap my price?

Debt-to-income compares your total monthly obligations to your gross monthly income. Lenders use it to judge whether a payment is sustainable. Conventional loans commonly cap around 43%, though FHA and some programs allow more with strong compensating factors like reserves or credit.

Does a bigger down payment increase what I can afford?

Yes, twice over. It reduces the amount you are financing, and once you cross 20% it removes monthly mortgage insurance entirely — which frees up more of your budget for the payment itself.

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