Get a practical home-price range based on your income, monthly debt, down payment, rate, taxes, insurance, and HOA costs.
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Start with rough numbers. You can update every field as you learn more.
Buying a home starts with understanding what fits within your monthly budget. This calculator estimates a purchase price using your qualifying income, recurring debts, down payment, interest rate, and property costs. It is a starting point before you begin a home search or speak with a lender.
Mortgage lenders review debt-to-income ratio, commonly called DTI. DTI compares monthly debt obligations with gross monthly qualifying income.
Some eligible conventional programs allow down payments as low as 3%. Conventional private mortgage insurance commonly applies when the down payment is below 20%. FHA can allow a 3.5% down payment and generally includes upfront and annual mortgage insurance. VA may allow 0% down for eligible borrowers and does not charge monthly mortgage insurance, although a one-time VA funding fee may apply unless the borrower is exempt.
Conventional, FHA, and VA loans do not all use one universal DTI ceiling. Automated underwriting, credit, reserves, down payment, income documentation, and lender rules can change the result. VA underwriting also reviews residual income, and 41% is generally treated as a review benchmark rather than an automatic cutoff. Some borrowers can qualify above it when the full file supports the payment.
Enter income you reasonably expect a lender to document and use. A lender may calculate commission, self-employment, bonus, and tax-free income differently from the number shown on a pay statement or benefit letter.
The rate shown in the calculator is an editable national reference, not a quote. Rates change and vary by credit, loan type, term, down payment, points, and lender. Property taxes also vary by the home and local taxing districts. Use the annual dollar option when you are looking at a specific property and know its tax bill.
This calculator provides a planning estimate only. Your actual approval, rate, monthly payment, and maximum purchase price depend on your complete financial profile, the property, the loan program, and the lender's underwriting. A lower DTI usually leaves more room for taxes, childcare, utilities, savings, maintenance, and changes in income.
Browse current listings, or talk through the estimate with Andrew and Alana. A quick conversation can help you replace broad assumptions with numbers that fit your target area and payment comfort.