Home Affordability Calculator

Wondering how much house you can afford? Enter your info to find out.

The calculation is for illustrative purposes only and is not intended to provide specific financial or other advice, and should not be relied upon in that regard. Even though you may qualify for the amount listed above, it may not be suitable for you.



Home Affordability Calculator Explained


Home affordability is the maximum home purchase price for which you qualify. This number determines how much house you can afford, and it’s what you use to shop for your house. It determines whether or not you can move into that hip, up-and-coming area, or the neighborhood with an amazing school district. And if your number is too low, it may help you decide to keep renting.


Home affordability generally comes down to three main factors:

    1. Income and assets – How much money do you have to complete the purchase? How much do you make and how consistent is it?

    2. Debt – How much debt do you have? How much does that debt cost you every month?

    3. Cash on hand – How much cash do you have to complete the transaction? This isn’t just cash for your down payment. It also includes cash required to pay any insurance, taxes, fees, and closing costs.

In addition to the above, home affordability may also be affected by:

  • The type of home you’re purchasing (single family residence, condo, etc.)
  • Where you are purchasing the home
  • What type of loan product you use


Remember, what you see in the home affordability calculator is just an estimate based on the inputs entered. Whatever your home affordability “results” are, know that with a little patience, a little work, and a smart approach, you can also improve this number. It’s also true that a few uninformed decisions might significantly lower your number.


If you have a question about our home affordability calculator or how much house you can afford, you can chat with one of our licensed Loan Specialists. Or see if you qualify for pre-approval now.