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House Affordability Calculator
Determine how much house you can afford based on your income, debts, and financial situation
Maximum House Price
$333,277
Monthly Income $6,667
Max Monthly Payment $1,867
Down Payment $66,655
Loan Amount $266,622
Debt-to-Income Ratios
Front-end Ratio: 34.4%
Back-end Ratio: 41.9%
Current Debt Ratio: 7.5%
⚠️ Warning
Your debt-to-income ratios exceed recommended limits. Consider reducing debts or increasing income.
Understanding Home Affordability
The 28/36 Rule
- • 28%: Maximum housing payment to income ratio
- • 36%: Maximum total debt to income ratio
- • Used by lenders to qualify borrowers
- • Conservative approach to prevent overextension
Additional Factors
- • Emergency Fund: 3-6 months of expenses
- • Closing Costs: 2-5% of purchase price
- • Moving Expenses: Budget for relocation
- • Home Maintenance: 1-3% annually