House Affordability Calculator
Calculate how much house you can afford based on your fixed monthly housing budget.
Maximum amount you can spend on housing each month.
Duration of the mortgage in years.
Annual fixed interest rate (0-20%).
Portion of the home price paid upfront as percentage or dollar amount.
Annual property tax as a percentage of home value or dollar amount.
Annual homeowners association or co-op fee as percentage or dollar amount.
Annual homeowners insurance cost as percentage or dollar amount.
Annual estimated maintenance, repairs, and utilities as percentage or dollar amount.
You can afford a house up to $449,176, within which $359,341 is the loan and $89,835 is the down payment.
Loan & Purchase Details
Monthly Costs
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About this calculator
This House Affordability Calculator helps you start with a monthly housing limit and estimate the maximum home price that fits within it.
It includes more than just the mortgage payment by adding estimates for property taxes, insurance, HOA fees, and maintenance costs.
Because those ongoing costs reduce what you can spend on the mortgage itself, they can meaningfully change the price that fits your budget.
This is a budget-driven planning estimate—meant to help you stay comfortable—not a lender approval or underwriting estimate.
What each input means
- Monthly housing budget is the maximum total amount you want to spend each month on housing.
- Mortgage loan term is the length of the mortgage in years (commonly 15–30).
- Interest rate (APR) is the annual interest rate used to calculate the mortgage payment.
- Down payment is upfront cash paid toward the purchase price.
- Property tax is the annual tax on the home, entered as a percentage or dollar amount.
- HOA / Co-op fee is the annual homeowners association or co-op fee, if applicable.
- Home insurance is the annual homeowners insurance cost.
- Maintenance costs is your estimated annual maintenance, repairs, and utilities.
How this calculator works
This calculator works backwards from your monthly housing budget to determine the maximum house price you can afford. Instead of starting with a home price and calculating monthly costs, we start with your budget and find the price that fits.
For any home price, we use the standard mortgage amortization formula to estimate the monthly mortgage payment (principal and interest).
We then add the monthly equivalents of property taxes, insurance, HOA fees, and maintenance, and iterate until we find the maximum price where total monthly costs match your budget.
Factors that affect Affordability
- Monthly budget – This is the primary constraint that caps affordability.
- Interest rate – Higher rates increase the mortgage payment for the same loan amount, reducing purchasing power.
- Down payment – A larger down payment lowers the loan amount and the monthly mortgage cost for a given home price.
- Ongoing costs – Taxes, HOA fees, insurance, and maintenance reduce how much of your budget can go toward the mortgage.
Key assumptions & limitations
- Fixed interest rate – Assumes a fixed interest rate and fixed monthly payments.
- Estimated costs – Taxes, insurance, HOA, and maintenance are estimates and can vary over time.
- Utilities beyond estimates – Does not include utilities beyond what you include in the maintenance/utilities estimate.
- No lender qualification – Does not include income qualification, debt-to-income checks, or underwriting rules.
- Closing costs simplified – Closing cost variability is not modeled beyond the simple estimate shown.
- Estimates only – Results are planning estimates, not financial or lending advice.
Use this calculator to compare scenarios and set a comfortable budget-first target before talking to a lender.