Free US House Affordability Calculator: PITI, DTI & Max Purchase Price

You can roughly afford a home priced at 3–5× your gross annual income, but only if your total monthly debts stay within standard DTI limits and you have enough cash for down payment and closing costs. This calculator uses your real income, debt, rate, taxes, and insurance to produce a personalized maximum home price instead of a one-size-fits-all rule of thumb.

The 28/36 rule says you should keep housing costs (PITI) at or below 28% of your gross monthly income and keep all debts (mortgage + car + cards + loans) at or below 36%. Many lenders still treat this as a benchmark, though some programs allow back-end DTI up to 43–50% when you have strong credit, reserves, or government-backed loans like FHA and VA.

Most conventional lenders prefer a back-end DTI of 36% or lower and rarely go beyond 43% without strong compensating factors. FHA, VA, and USDA can approve DTIs in the high 40s or even low 50s when income is stable and you have extra savings — but that does not mean it is comfortable for your budget. This calculator highlights where your DTI falls in the “excellent / acceptable / stretched” bands so you are not blindsided later.

Yes. Many online tools only show principal and interest, which can understate your real payment by 20–40%. This calculator always builds your monthly payment as full PITI — principal, interest, property taxes, homeowners insurance, plus PMI/MIP/fees and optional HOA dues — because lenders qualify you on the all-in number, not the teaser P&I payment.

On a $50,000 salary, the 28/36 rule suggests keeping your housing payment near $1,150 per month and your total debts under about $1,500. In today’s rate environment, that usually supports a home in roughly the $150,000–$225,000 range depending on your down payment, property taxes, and existing debt load. Use the calculator with your exact debts and location to narrow that range for your situation.

If your household earns $100,000 per year, your target housing payment under the 28% rule is about $2,300 per month, and your total debts should stay under roughly $3,000 per month. With a solid down payment and average property taxes, that often translates to a home in the $300,000–$450,000 range. High-cost states, big car loans, or student debt can pull that number down quickly, which is why the DTI-driven approach in this calculator is more accurate than income alone.

Every required monthly debt payment counts against your back-end DTI, dollar for dollar. A $450 car payment and $150 in credit card minimums reduce the room left for your mortgage by $600 per month. In this calculator, the “Monthly Debt Payments” field lets you see exactly how paying off a car loan or personal loan can increase your maximum affordable home price.

You can include W‑2 wages, salary, consistent bonuses, overtime, commissions, Social Security, pension income, and self‑employment income that has a 2‑year history. Lenders typically ignore “one‑off” income spikes, recent side hustles, or cash payments without documentation. The calculator lets you combine multiple income types, but for pre‑approval you will need pay stubs, W‑2s, and tax returns to back them up.

You can buy a home with as little as 3% down on a conventional loan, 3.5% with FHA, and 0% with VA or USDA if you qualify. The trade‑off is higher monthly mortgage insurance and a higher LTV, which both raise your payment and your risk. Many buyers aim for 5–10% down while keeping 3–6 months of reserves in savings; 20% down often gives the best combination of lower payment, no PMI, and more rate options.

Yes. If putting 20% down would wipe out your emergency fund, it can be smarter to put 5–10% down and keep extra cash for repairs, job loss, and other surprises. In this calculator, you can test a smaller down payment and see how PMI affects your monthly payment and DTI. If the payment difference is modest but your savings cushion doubles, the lower down payment may be the safer choice.

PITI stands for Principal, Interest, Taxes, and Insurance — the full monthly cost of owning your home. Lenders qualify you based on PITI (plus any HOA fees and mortgage insurance), not just the base principal and interest payment. This calculator always displays your all‑in PITI payment so you are looking at the same number your underwriter will analyze.

Technically, some lenders can approve loans with DTIs in the high 40s or even low 50s — especially with FHA, VA, or strong residual income. Practically, DTIs above about 40–43% often feel tight in real life once you layer in childcare, commuting, and irregular expenses. The calculator’s DTI bands help you see the difference between “approval possible” and “budget truly comfortable.”

Your mortgage rate directly controls how much of your monthly payment goes to interest versus principal. A 1‑percentage‑point change in rate can swing your maximum affordable home price by tens of thousands of dollars. The sensitivity analysis in this tool reruns your scenario across different rate levels so you can see a realistic “safe range” instead of betting everything on today’s exact rate.

Higher credit scores usually unlock lower interest rates and cheaper mortgage insurance, both of which increase the home price you can afford at the same monthly payment. Dropping from a top‑tier score into the “fair” or “poor” range can add hundreds of dollars to your monthly payment and more than $100,000 in extra interest over 30 years on a typical US loan. Improving your score before you buy is often the highest‑ROI move you can make.

This tool shows the maximum home price that fits common lending guidelines — not necessarily the price that fits your lifestyle. If you buy at the absolute max, there may be little room left for savings, travel, or emergencies. Many buyers aim 5–15% below the calculator’s max price so they can still hit retirement savings and other financial goals comfortably.

A 15‑year loan builds equity faster and saves a lot of interest, but the monthly payment is much higher than a 30‑year loan. For many buyers, a 15‑year mortgage will cut their maximum affordable home price significantly. A common strategy is to qualify using a 30‑year fixed, then make extra principal payments when you have surplus cash; this preserves flexibility while still allowing you to pay the home off faster.

Government‑backed loans like FHA, VA, and USDA often allow higher DTIs and lower down payments than conventional loans, which can increase your maximum home price on paper. However, they also add mortgage insurance or funding fees that raise your monthly payment. The loan type comparison in this calculator shows how each program changes your max price, payment, and total 30‑year cost so you can see beyond the headline “0% down” marketing.

Property taxes and HOA dues are treated as part of your housing payment, just like principal and interest. High‑tax states or large HOA fees can reduce the home price you qualify for even if your income is strong. In the calculator, you can adjust tax and HOA assumptions to match your target neighborhood so your affordability estimate is local, not generic.

Most financial planners recommend at least 3–6 months of essential expenses in cash after you close, while many lenders like to see at least 2 months of PITI in reserves. This calculator subtracts your estimated down payment and closing costs from your savings and shows whether your remaining balance hits a healthy reserve target so you do not buy a home that leaves you one emergency away from trouble.

This calculator is built to mirror the math lenders use — DTI limits, PITI, loan‑type rules, and basic reserve checks — and it is a great way to get an honest first look at your price range. That said, only a licensed lender can issue an official pre‑approval that a seller will rely on. Use this tool to define your comfort zone, then have one or two lenders verify the numbers with your actual documents before you start making offers.

Rates, taxes, debts, and even your income can change over a home‑search that lasts several months. It is smart to re‑run your numbers whenever your rate quote moves by more than 0.25%, you take on or pay off a major debt, or your target price range shifts. Doing this keeps you from falling in love with a house that no longer fits your updated budget.