CFPB Guidelines
FHA, VA & Conventional
Detailed Breakdown
Mortgage Affordability Calculator
Estimate how much house you can afford based on income, debts, and rates.
Basic Info
Property Details
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Formula (LaTeX) + variables + units
This section shows the formulas used by the calculator engine, plus variable definitions and units.
Fixed-rate payment (principal + interest)
\[M = P\,\frac{r(1+r)^{n}}{(1+r)^{n}-1}\]
M = P * [ r(1+r)^n ] / [ (1+r)^n - 1 ]
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):
- CFPB: Debt-to-Income Ratio — consumerfinance.gov · Accessed 2026-01-19
https://www.consumerfinance.gov/ask-cfpb/what-is-a-debt-to-income-ratio-en-1791/ - HUD: FHA Loan Requirements — hud.gov · Accessed 2026-01-19
https://www.hud.gov/program_offices/housing/sfh/ins/sfhvsmmenu - VA: Home Loan Benefits — va.gov · Accessed 2026-01-19
https://www.va.gov/housing-assistance/home-loans/ - Fannie Mae: Eligibility Matrix — fanniemae.com · Accessed 2026-01-19
https://www.fanniemae.com/singlefamily/eligibility-matrix
Changelog
Version: 0.1.0-draft
Last code update: 2026-01-19
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.