Real Estate & Mortgages

Home Affordability Calculator

Estimate a home price that fits your monthly budget — not just the amount a lender might approve.

Free Home Buyer Tool
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Start with four numbers

We’ll fill in planning assumptions for the rest. You can adjust them after you see the estimate.

KNOW THIS BEFORE YOU BUY

Affordability is more than the mortgage payment

CFPB recommends focusing on what fits comfortably within your budget rather than simply how much a lender may be willing to lend. Your total housing cost can include principal, interest, property taxes, homeowners insurance, mortgage insurance and HOA dues, plus maintenance and utilities outside the mortgage payment.

Approval is not the same as comfort

A lender’s qualification amount does not account for every family expense, savings goal or financial priority. Treat this calculator as a budgeting tool, not an approval estimate.

Taxes and insurance matter

Property taxes and homeowners insurance can change over time. Replace planning assumptions with local or property-specific numbers as soon as you have them.

PMI can change the payment

Mortgage insurance is commonly associated with lower-down-payment loans. The actual requirement and price depend on the loan program and lender.

HOA dues can be substantial

HOA or condo dues are often paid separately from the mortgage servicer, but they still belong in your monthly housing budget.

Closing costs need cash too

CFPB says closing costs typically range from 2% to 5% of purchase price, excluding the down payment. Actual costs depend on the home, loan and location.

Protect your emergency savings

CFPB cautions buyers not to sacrifice savings just to buy a larger home. Repairs, replacements and other surprises continue after closing.

Know this before: A home can fit a lender’s underwriting rules and still feel too expensive in your real monthly budget. Use the result as a starting point, then replace assumptions with actual tax, insurance, HOA and loan quotes.

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