Affordability Calculator | How Much House Can I Afford?

Gross annual income (before taxes)

Enter your total household income before taxes.

Monthly debts: car, student loans, credit cards (minimum payments)

Include all recurring monthly debt obligations. Don't include rent or utilities.

Down payment you have available

Estimated interest rate (%)

Loan term

Conservative (36% DTI)

Estimated home price

Max Monthly Housing Payment

Down Payment

Loan Amount

Maximum (43% DTI)

Estimated home price

Max Monthly Housing Payment

Down Payment

Loan Amount

Most lenders cap back-end DTI at 43%. FHA can go higher with strong compensating factors. Conventional is often stricter. This is an estimate: your actual limit depends on your full credit profile.

This calculator provides estimates for informational purposes only. Results are not a commitment to lend. Contact a licensed mortgage professional for accurate figures. Loan products and rates subject to change.

See What You'd Actually Qualify For With a Real Lender

Calculators use assumptions. Jordan uses your actual file. There's a difference, and it's usually good news.

Want to understand the full picture? See our guides on the home buying process, how mortgage approval works, and mortgage basics.

How To Read Your Affordability Result

This calculator shows you two numbers: a conservative estimate at 36% DTI and a maximum at 43% DTI. Most borrowers land somewhere in between depending on their loan program, lender, and credit profile. The conservative number is a safer shopping target. The maximum is what a lender might technically approve on paper.

The one to watch

Your monthly debt payments shrink your buying power faster than almost anything else.

Every $100 in existing monthly debt payments removes roughly $15,000 to $20,000 from your maximum home price at a 7% rate. A car payment, a student loan, a credit card minimum: each one reduces what the lender will give you. Paying one down before applying can meaningfully shift your number.

What This Calculator Doesn't Include

The home price range you see here is based on income, debts, down payment, and estimated taxes and insurance. It doesn't account for your credit score, which affects the rate you'll actually get and whether certain loan programs are available to you. It also doesn't factor in reserves, the amount lenders want to see left in the bank after closing. Your real approval limit comes from a pre-approval, not a calculator.

Four Inputs That Move Your Number

Every field in this calculator pulls on the result. Here's what each one does.

Annual Income: the ceiling of your buying power

Your gross annual income before taxes is the foundation of the DTI calculation. The lender takes your monthly gross income and multiplies it by the DTI cap to get the maximum total monthly debt payment they'll allow, including your future mortgage. More income means a higher ceiling. If you have a co-borrower, their income adds to yours and can significantly increase the range.

Monthly Debt Payments: the floor that limits your mortgage

Car loans, student loans, minimum credit card payments, personal loans: every dollar of monthly debt you carry takes a dollar out of the budget the lender has for your mortgage. If your income is $6,000 a month and your DTI cap is 43%, you have $2,580 total for all debts combined. If $800 of that is already spoken for, you have $1,780 left for your housing payment. That's why reducing debt before applying can shift your range more than almost any other move.

Down Payment: how it shifts the loan amount, not the DTI

A larger down payment directly lowers your loan amount, which lowers your monthly principal and interest payment, which lets you buy a more expensive home within the same DTI limit. It can also remove PMI on a conventional loan, freeing up another $100 to $250 a month in payment capacity. If you're at the edge of your affordability range, adding down payment is one of the most efficient ways to increase the price you can reach.

Interest Rate: the multiplier that affects every scenario

The rate determines how much of your monthly payment goes toward interest versus principal, and therefore how large a loan your monthly budget can support. A 1% rate difference on a $350,000 loan changes the monthly payment by roughly $200. At the qualifying limit, that $200 gap can mean $30,000 or more in purchase price. The rate you get is based on your credit score, loan program, and market conditions on the day you lock, not the rate in this calculator.

When To Trust This Number, and When Not To

Trust this range for setting a realistic shopping target and having an informed conversation with your agent. Don't treat it as a pre-approval. Lenders verify income documentation, pull your actual credit report, and price your rate based on your full file. Approved amounts vary by lender, loan type, and the specific property. The only way to know your real number is to apply.

Want to understand the full process before you apply? See how mortgage approval works start to finish, or start with Mortgage 101 if you're new to buying.

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Affordability Calculator FAQ

Common questions about how this calculator works, what the DTI scenarios mean, and what to do next.

What DTI ratio does this calculator use?

This calculator runs two scenarios: a conservative 36% back-end DTI and a maximum 43% back-end DTI. Most conventional lenders cap at 43%, though FHA can go higher with strong compensating factors like a large down payment or significant reserves. The 36% scenario is what many lenders prefer on larger loans or for borrowers with thinner credit profiles.

How accurate is the home price estimate?

The estimate is mathematically accurate for the inputs you provide, but it uses assumptions about taxes, insurance, and HOA that may not match your target property. The output is a useful range for shopping. Your actual maximum purchase price is set by the lender based on your full credit file, not a calculator.

Does this calculator include property taxes and insurance?

Yes. The calculator uses typical Florida estimates for property taxes and homeowner insurance to arrive at a total monthly payment, then works backward to a maximum home price. If your target property has unusually high taxes or an HOA, the real number will be lower than what this calculator shows.

What if I have no monthly debt payments?

No debt is a strong position. With zero monthly obligations, your entire DTI budget goes toward housing, which maximizes your buying power. The calculator will show you a higher range than most borrowers in your income bracket. Lenders still verify income, assets, and credit history regardless of debt load.

How does my down payment affect my affordability?

A larger down payment reduces your loan amount, which lowers your monthly principal and interest payment. That frees up room in your DTI budget for a higher-priced home. It can also remove mortgage insurance on a conventional loan, further reducing your monthly cost. Down payment assistance programs in Florida can give you a head start if savings are limited.

Can I increase how much I qualify for?

Yes. The three fastest levers are: pay down existing debt to lower your monthly obligations, increase your income with documented side work or a raise, or save a larger down payment to reduce the loan amount. A lender can also tell you whether adding a co-borrower would help. Talk to Jordan before you assume you're capped.

Is 43% DTI really the maximum?

For conventional loans, 43% is a common cap but not a hard rule. FHA loans can go to 57% or higher with strong compensating factors like excellent credit, significant reserves, or a large down payment. VA loans are also more flexible than conventional. The limit depends on the loan program, your lender, and the strength of the rest of your file.

What is the next step after running this calculator?

Get pre-approved. The calculator gives you a range. A pre-approval gives you a real number based on your actual credit, income documentation, and the loan program you qualify for. It also positions you to make a competitive offer the moment you find the right home. Most pre-approvals at 14 Days To Close take less than a day.

How Much House Can You Actually Afford?