Calculator
How much home can I afford?
Lenders mostly care about one number: how much of your income goes to debt. This works backward from that limit to a realistic price range.
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Calculator by Goalee, running under Frank’s account. If it does not load, open it in a new tab (opens in a new tab).
Questions people ask
- What income counts?
- Gross income before taxes for everyone on the loan: salary, hourly wages, overtime and bonuses with a two-year history, self-employment income from tax returns, retirement, Social Security and VA disability. Some non-taxable income can be grossed up.
- Which debts count against me?
- Monthly payments that show on your credit report or court records: car loans, student loans, minimum card payments, personal loans, child support and alimony. Rent, utilities, phone bills and insurance do not count.
- Does a bigger down payment raise my price?
- Yes, dollar for dollar, and it can also lower your rate and remove mortgage insurance, which raises the price further.