Lock It Lending

Free home affordability estimator

How much house can I afford?

Estimate a planning price from gross income, recurring debts, down payment, rate, taxes, insurance, and HOA fees. The result is a budget estimate—not preapproval.

Income, debts, and loan assumptions

Use gross income before taxes. For debts, enter required monthly payments—not account balances.

Debt payments included in estimated DTI$750 / mo

Select payoff only when you plan to fully pay the debt at or before closing. Your lender must approve the exclusion and verify sufficient funds. Keep payoff funds separate from the down payment and closing costs entered in your plan.

Down payment

Property costs required for an accurate estimate

Enter the property’s combined local tax rate and review the insurance, HOA, and mortgage-insurance estimates. These costs can materially change the result.

Property taxes are not included yet. Enter the property’s combined local tax rate for a complete estimate.

Estimated affordable home price

$511,246

This estimate uses a maximum total DTI of 50%, including the new housing payment.

Down payment$51,125
Estimated loan amount$460,121
Maximum housing payment at 50% DTI$3,250
Estimated housing payment$3,250
Principal & interest$2,908.28
Property taxes$0.00
Homeowners insurance$150.00
Mortgage insurance$191.72
HOA / condo fees$0.00
Estimated total DTI50.0%
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Transparent methodology

How the home affordability estimate works

The calculator applies a maximum total DTI of 50% to gross monthly income, subtracts existing required debt payments that are not marked for payoff, and treats the remainder as the maximum housing payment. It then solves for the highest home price whose estimated principal, interest, taxes, homeowners insurance, mortgage insurance, and HOA fees fit within that amount.

The 50% total-DTI limit is a planning guideline, not an underwriting rule. The CFPB notes that DTI limits differ by lender and loan product. Actual qualification also depends on documented income, assets, credit, property details, loan program, and other underwriting factors.

Methodology reviewed August 2026.

Frequently asked questions

What income should I enter?

Enter total gross monthly income before taxes and payroll deductions. A lender will determine which income can be documented and used for qualification.

Which debts should I include?

Enter required monthly payments for car loans, credit cards, student loans, and other recurring debts. Use monthly payments rather than outstanding balances. If you plan to fully pay off a debt at or before closing, select that option beside the debt. The estimate will omit its monthly payment, but the lender must verify the payoff, available funds, and eligibility under the applicable loan program.

Does this result mean I am preapproved?

No. The result is a planning estimate only. A preapproval requires a lender review and does not guarantee final approval or financing.

How much house can I afford on my income?

There is no single answer, because affordability depends on documented income, required monthly debts, down payment, loan program, credit, and local property taxes and insurance. This calculator applies a maximum total debt-to-income ratio of 50% as a planning guideline and solves for the highest price whose estimated housing payment fits inside it. Treat the result as a starting budget to discuss with a licensed mortgage professional, not as a qualification decision.

Why does the estimate change so much when I edit property taxes?

Property taxes and insurance are part of the housing payment measured against the debt-to-income limit, so every dollar of monthly tax or insurance reduces the amount left for principal and interest. Two homes at the same price in different tax jurisdictions can produce materially different results.

Worked example

How the affordability estimate is built

The figures below are illustrative inputs chosen to explain the arithmetic. They are not current rates, a preapproval, or a statement about what any lender will offer.

  1. Enter $8,000 of gross monthly income. The 50% total debt-to-income planning limit gives $4,000 available for all monthly debt, including the future housing payment.
  2. Enter $500 for a car loan, $100 in credit-card minimums, and $150 for student and other debts. Those $750 of required payments are subtracted, leaving an estimated $3,250 maximum housing payment.
  3. The calculator then works backwards from that $3,250. It searches for the highest home price whose principal, interest, property taxes, homeowners insurance, mortgage insurance, and HOA fees fit inside the housing budget at the rate, term, and down payment you entered.
  4. Marking a debt as paid off at or before closing removes its monthly payment from the calculation, which raises the estimate. A lender still has to verify the payoff and the funds used for it.

Because taxes and insurance compete with principal and interest inside the same budget, two homes at the same price in different tax jurisdictions can produce different results. Qualification depends on documented income, assets, credit, the property, and the loan program, so treat this as a starting budget to discuss with a licensed mortgage professional.

Credit is part of that review.Hanh Dao's guide to improving your credit score before a mortgageexplains what to check on your credit reports before you apply.

Important estimate disclosure

This calculator is for educational and planning purposes only. Results do not indicate approval or financing and are not financial advice, a commitment to lend, or a guarantee of rates, costs, or terms. Your actual eligibility and payment may differ materially.

Sources: Consumer Financial Protection Bureau DTI guidance and Fannie Mae affordability guidance, and Fannie Mae guidance for debts paid off at or before closing.

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