Affordability Calculator
Estimate how much home you may afford across loan programs, based on income and debts.
Monthly liabilities (non-housing debts)
Enter minimum monthly payments for debts that appear on your credit report. These reduce the mortgage payment you can qualify for.
Total itemized debts: $675/mo. If you enter a total above, it is used only when the itemized total is $0.
Estimated closing costs & cash-to-close
These are one-time costs due at closing, separate from your monthly payment. They are scaled proportionally for each loan scenario below.
Net closing costs after seller credits: $6,000. Cash-to-close below includes down payment + these costs.
Conventional
20% Down (No PMI)
$431,372
Down: $86,274
- P&I
- $2,181
- Taxes
- $395
- Insurance
- $126
3% Down (Min + PMI)
$355,770
Down: $10,673
- P&I
- $2,181
- Taxes
- $326
- Insurance
- $104
- PMI
- $144
FHA
10% Down (Lower MIP)
$383,442
Down: $38,344
- P&I
- $2,181
- Taxes
- $351
- Insurance
- $112
- MIP
- $144
3.5% Down (Min + MIP)
$357,614
Down: $12,516
- P&I
- $2,181
- Taxes
- $328
- Insurance
- $104
- MIP
- $244
VA
0% Down (No PMI)
$345,097
Down: $0
- P&I
- $2,181
- Taxes
- $316
- Insurance
- $101
How the income-needed number is calculated
Gross monthly income
$8,333
43% back-end DTI cap
$3,583
Max total monthly obligations
Minus non-housing debts
$675
Car, student loans, cards, etc.
Left for PITI
$2,908
Principal, interest, taxes, insurance
Front-end DTI = PITI ÷ gross monthly income. Back-end DTI = (PITI + monthly debts) ÷ gross monthly income. Lenders often use 43% back-end as a common guideline, but programs allow higher or lower limits depending on credit score, reserves, and automated underwriting. Every $100 of monthly debt reduces the mortgage payment you can qualify for by about $100 at a 43% cap.
Disclaimer: These are estimates only, based on the limited information provided, and assume a 43% debt-to-income ratio and roughly average property taxes (~1.1%/yr). Not an official quote, commitment to lend, or guarantee of rates or terms. Actual rates, payments, and terms vary by credit history, property details, and other factors. Contact us for a personalized quote.