House Affordability Calculator - How Much House Can I Afford?

Calculate how much house you can afford based on your income, debts, down payment, and other factors. Get instant estimates with detailed breakdown of purchase price, monthly payments, and debt-to-income ratios.

Full original guide (expanded)

Audit: Complete

Formula (LaTeX) + variables + units

This section shows the formulas used by the calculator engine, plus variable definitions and units.

Formula (extracted LaTeX)

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Formula (extracted text)

1. Calculate Monthly Gross Income: Monthly Income = Annual Income ÷ 12 2. Determine Maximum Monthly Debt Payment: Max Total Debt = Monthly Income × DTI Ratio 3. Calculate Available for Housing: Max Housing Payment = Max Total Debt - Current Monthly Debts 4. Reverse-Calculate Affordable Loan: This housing payment includes P&I, taxes, insurance, and HOA. We subtract property costs to find the P&I portion, then use the standard mortgage formula in reverse to find the maximum loan amount. 5. Add Down Payment: Max Home Price = Max Loan + Down Payment

Variables and units

T = property tax (annual or monthly depending on input) (currency)
I = homeowners insurance (annual or monthly depending on input) (currency)
PMI = private mortgage insurance (monthly) (currency)
HOA = homeowners association dues (monthly) (currency)

Sources (authoritative):

Homebuying Process Guide — consumerfinance.gov · Accessed 2026-01-19
https://www.consumerfinance.gov/owning-a-home/process/prepare/
Home — calcdomain.com · Accessed 2026-01-19
https://calcdomain.com/
Finance — calcdomain.com · Accessed 2026-01-19
https://calcdomain.com/finance
Mortgages — calcdomain.com · Accessed 2026-01-19
https://calcdomain.com/subcategories/mortgage-real-estate

Changelog

Version: 0.1.0-draft
Last code update: 2026-01-19

0.1.0-draft · 2026-01-19

Initial audit spec draft generated from HTML extraction (review required).
Verify formulas match the calculator engine and convert any text-only formulas to LaTeX.
Confirm sources are authoritative and relevant to the calculator methodology.

Verified by Ugo Candido on 2026-01-19
Profile · LinkedIn

, ', svg: { fontCache: 'global' } };

Audit: Complete

Formula (LaTeX) + variables + units

This section shows the formulas used by the calculator engine, plus variable definitions and units.

Formula (extracted LaTeX)

\[','\]

','

Formula (extracted text)

1. Calculate Monthly Gross Income: Monthly Income = Annual Income ÷ 12 2. Determine Maximum Monthly Debt Payment: Max Total Debt = Monthly Income × DTI Ratio 3. Calculate Available for Housing: Max Housing Payment = Max Total Debt - Current Monthly Debts 4. Reverse-Calculate Affordable Loan: This housing payment includes P&I, taxes, insurance, and HOA. We subtract property costs to find the P&I portion, then use the standard mortgage formula in reverse to find the maximum loan amount. 5. Add Down Payment: Max Home Price = Max Loan + Down Payment

Variables and units

T = property tax (annual or monthly depending on input) (currency)
I = homeowners insurance (annual or monthly depending on input) (currency)
PMI = private mortgage insurance (monthly) (currency)
HOA = homeowners association dues (monthly) (currency)

Sources (authoritative):

Homebuying Process Guide — consumerfinance.gov · Accessed 2026-01-19
https://www.consumerfinance.gov/owning-a-home/process/prepare/
Home — calcdomain.com · Accessed 2026-01-19
https://calcdomain.com/
Finance — calcdomain.com · Accessed 2026-01-19
https://calcdomain.com/finance
Mortgages — calcdomain.com · Accessed 2026-01-19
https://calcdomain.com/subcategories/mortgage-real-estate

Changelog

Version: 0.1.0-draft
Last code update: 2026-01-19

0.1.0-draft · 2026-01-19

Initial audit spec draft generated from HTML extraction (review required).
Verify formulas match the calculator engine and convert any text-only formulas to LaTeX.
Confirm sources are authoritative and relevant to the calculator methodology.

Verified by Ugo Candido on 2026-01-19
Profile · LinkedIn

]], displayMath: [['\\[','\\]']] }, svg: { fontCache: 'global' } };, svg: { fontCache: 'global' } };

Audit: Complete

Formula (LaTeX) + variables + units

This section shows the formulas used by the calculator engine, plus variable definitions and units.

Formula (extracted LaTeX)

\[','\]

','

Formula (extracted text)

1. Calculate Monthly Gross Income: Monthly Income = Annual Income ÷ 12 2. Determine Maximum Monthly Debt Payment: Max Total Debt = Monthly Income × DTI Ratio 3. Calculate Available for Housing: Max Housing Payment = Max Total Debt - Current Monthly Debts 4. Reverse-Calculate Affordable Loan: This housing payment includes P&I, taxes, insurance, and HOA. We subtract property costs to find the P&I portion, then use the standard mortgage formula in reverse to find the maximum loan amount. 5. Add Down Payment: Max Home Price = Max Loan + Down Payment

Variables and units

T = property tax (annual or monthly depending on input) (currency)
I = homeowners insurance (annual or monthly depending on input) (currency)
PMI = private mortgage insurance (monthly) (currency)
HOA = homeowners association dues (monthly) (currency)

Sources (authoritative):

Homebuying Process Guide — consumerfinance.gov · Accessed 2026-01-19
https://www.consumerfinance.gov/owning-a-home/process/prepare/
Home — calcdomain.com · Accessed 2026-01-19
https://calcdomain.com/
Finance — calcdomain.com · Accessed 2026-01-19
https://calcdomain.com/finance
Mortgages — calcdomain.com · Accessed 2026-01-19
https://calcdomain.com/subcategories/mortgage-real-estate

Changelog

Version: 0.1.0-draft
Last code update: 2026-01-19

0.1.0-draft · 2026-01-19

Initial audit spec draft generated from HTML extraction (review required).
Verify formulas match the calculator engine and convert any text-only formulas to LaTeX.
Confirm sources are authoritative and relevant to the calculator methodology.

Verified by Ugo Candido on 2026-01-19
Profile · LinkedIn

Formulas

(Formulas preserved from original page content, if present.)

Version 0.1.0-draft

Citations

Add authoritative sources relevant to this calculator (standards bodies, manuals, official docs).

Changelog

0.1.0-draft — 2026-01-19: Initial draft (review required).