A couple sits with a mortgage advisor in a bright office, reviewing budget limits and exploring how much home they can comfortably afford.

Home Affordability Calculator

Evaluate how much house you can truly afford—accounting for your income, debts, expenses, and down payment. The EstateGather Home Affordability Calculator offers a complete snapshot of monthly housing costs and loan eligibility to help you buy within your means and plan with confidence.

Loan Information

House Affordability Calculator

Your Information

House Affordability Calculator
30%
You could afford: $0.00

Using the Calculator

This calculator estimates the price of a home you can afford based on your income, financial commitments, and preferred budget. It helps you stay within your means while planning for the total cost of ownership—not just the mortgage.

Step-by-Step Instructions

1. Enter Your Loan Term (Years)

  • Choose how long you’ll take to repay the mortgage.
  • Why It’s Important: Your term affects monthly payments and total interest—longer terms lower payments but increase long-term cost.

2. Input Interest Rate (%)

  • Enter the expected interest rate from your lender.
  • Why It’s Important: Even a small change in rate can significantly affect your monthly mortgage cost.

3. Enter Property Expenses

Enter estimated monthly costs for:

  • HOA Fees
  • Insurance
  • Property Taxes
  • Why It’s Important: These are part of your monthly obligation and affect your overall affordability.

4. Enter Your Financial Details

Provide your:

  • Annual Income (before taxes)
  • Monthly Debts (car loans, student loans, credit cards)
  • Down Payment
  • Why It’s Important: These determine your borrowing capacity and whether you’ll qualify for a loan.

5. Adjust Your Housing Budget (%)

  • Choose the percentage of income you’re comfortable spending on housing.
  • Why It’s Important: Lower percentages give you more financial flexibility—36% is a common budgeting benchmark.

Understanding the Results

Affordable Home Price

  • The maximum house price you can afford based on all inputs.
  • Why It’s Important: Helps ensure your purchase fits your financial lifestyle—not just lender approval.

Total Loan Amount

  • The loan you’d need after applying your down payment.
  • Why It’s Important: This determines what type of financing you’ll qualify for and your monthly payment.

Estimated Monthly Payment

  • Breaks down your payment including principal, interest, HOA, insurance, and taxes.
  • Why It’s Important: Gives you a realistic preview of your monthly cost of homeownership.

Tips for Getting Accurate Results

Use Conservative Return Rates

If unsure, use 6–7% for mortgage rates.

Include Every Cost

Don’t forget HOA fees, insurance, and property taxes—they’re easy to overlook.

Aim for 36% or Less

Spending more than 43% of your income on housing can make it harder to qualify for a loan.

Use the Slider Thoughtfully

Choose a housing percentage that fits your lifestyle and leaves room for savings and emergencies.

Why Use This Calculator?

The EstateGather Home Affordability Calculator gives you a complete view of what you can realistically afford—not just what a bank might approve. By factoring in debts, expenses, and goals, this tool helps you avoid surprises and stay in control of your homebuying journey.