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Home Affordability Calculator — How Much House Can I Afford?

See the max home price your income, debts, and down payment support at three lender debt-to-income tiers — from Fannie Mae and Freddie Mac's own underwriting guidelines.

Income & debts
$120,000

Car loans, student loans, credit cards, personal loans, and any other recurring debt reported to credit bureaus. Don't include rent (you're about to replace it) or everyday expenses like groceries.

Loan & home costs
$60,000

20% avoids private mortgage insurance (PMI) on a conventional loan — not modeled below, so a smaller down payment's real monthly cost will run higher than shown.

Defaults to Freddie Mac's 30-year fixed average, 6.95% as of September 17, 2026 — your actual quote depends on credit score, loan type, and points.

Max home price by debt-to-income tier

TierMax home priceMonthly paymentLoan amount
Conservative(36% DTI)$460,740$3,100$400,740
With strong credit & reserves(45% DTI)$584,688$4,000$524,688
Lender's absolute ceiling(50% DTI)$653,547$4,500$593,547

Highlighted row: the 36% guideline Fannie Mae and Freddie Mac document as their baseline before a lender needs to justify going higher. The other two rows show what documented compensating factors (strong credit, cash reserves, a bigger down payment) or an automated underwriting approval can stretch to — not a recommendation to spend that much.

At the conservative tier ($460,740)

Principal & interest$2,653
Property tax$296
Homeowners insurance$152
Total monthly housing payment$3,100

Your other monthly debts alone are already 5.0% of your gross income before any housing payment is added.

Estimate only. Models total ("back-end") debt-to-income ratio — housing payment plus other debt, divided by gross income — using Fannie Mae/Freddie Mac guideline thresholds. Does not model a separate housing-only ("front-end") ratio, private mortgage insurance (PMI) below 20% down, closing costs, maintenance, or your specific lender's or loan program's actual approval criteria, which can differ from these guidelines. Property tax and insurance defaults are statewide averages, not your specific metro or ZIP. Not financial or legal advice.

Frequently asked questions

Q.What's the difference between this and the Rent vs. Buy Calculator?

This tool answers "what price can I qualify for," using the debt-to-income math lenders actually apply. The Rent vs. Buy Calculator answers a different question — given a specific home price you're already considering, does buying or renting leave you better off financially over time. Use this one first to find your range, then that one to stress-test a specific price within it.

Q.Why does the calculator show three different numbers instead of one?

Because "how much can I afford" doesn't have one lender-wide answer. Fannie Mae and Freddie Mac both publish 36% total debt-to-income as their baseline guideline, but both also allow up to 45% when a borrower documents compensating factors (strong credit, cash reserves, a bigger down payment), and up to 50% through automated underwriting. All three are real numbers a lender might quote you — the conservative one is the one most people should plan around, and the other two show how much that number can stretch, and why any specific quote you get might differ from all three.

Q.Does this include PMI?

No. Private mortgage insurance is required by most conventional lenders whenever the down payment is under 20%, and typically runs in the rough neighborhood of 0.5-1.5% of the loan amount annually depending on credit score and loan-to-value — but the exact rate varies enough by insurer, credit score, and loan program that adding a single assumed number here would be more misleading than disclosing the gap. If your down payment will be under 20%, expect your real monthly payment (and therefore your real max affordable price) to be somewhat lower than shown.

Q.Does this account for a housing-only ("front-end") ratio, like the 28% rule?

No — only the total debt-to-income ratio (all debt, including housing, over gross income) is modeled here, using the Fannie Mae and Freddie Mac figures cited below. A separate housing-only ratio is common in mortgage underwriting too, but the exact percentage varies by loan program, and this site couldn't independently verify a single figure against a primary government source rather than a secondary site repeating it — so it's left out rather than guessed at.

Sources