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Home & Mortgage

Home Affordability Calculator

Estimate a home-price range based on income, debts, down payment, mortgage rate, property taxes, insurance, HOA dues, and the DTI scenario you select.

Quick mode

Start with the few inputs that usually move the answer most. MFA keeps transparent defaults for the rest until you open them.

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Required monthly payments such as auto, student loan and credit-card minimums.

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Quick-mode assumptions: property tax 1.2%, insurance 0.35% and $0/month HOA remain in the estimate. Open Full above to change them.

Lower leverage

(28% total DTI scenario)

More room between modeled obligations and gross income.

Modeled housing payment: $1,833/mo · total obligations: 28.0% of gross income

$290,656

Middle scenario

(36% total DTI scenario)

A commonly discussed reference point, not an approval standard.

Modeled housing payment: $2,500/mo · total obligations: 36.0% of gross income

$378,233

Higher leverage

(43% total DTI scenario)

Less monthly cushion. Some loans allow more or less depending on underwriting.

Modeled housing payment: $3,083/mo · total obligations: 43.0% of gross income

$454,863

Middle-scenario housing payment

$2,500/mo

P&I

$2,011

Property tax

$378

Insurance

$110

HOA

$0

Why these results move with price: property tax and insurance are modeled as percentages of the home value, so a higher modeled home price also increases those carrying costs. The previous version held one tax/insurance dollar amount constant while solving for different prices, which could overstate affordability.
These are planning scenarios, not lender pre-approvals. They do not model PMI, mortgage insurance rules, credit-score pricing, lender reserves, closing costs, local assessments, income documentation, or every underwriting adjustment. Use an actual Loan Estimate/pre-approval for a transaction.

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Inputs, estimates & source dates

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PNG and PDF use the same high-resolution MFA export layout with result context and assumptions. On iPhone, Save PNG can open the iOS share sheet. MyFriendAlex.org is the full experience · MFA.Money is the short address.

Go deeper in Excel

Home Buying Decision Model

Mortgage, closing costs, property tax, maintenance, opportunity cost and rent-vs-buy scenarios. The workbook is being built as a reusable companion to MFA's free web tools.

Planned workbook: Mortgage model · true cost · rent vs buy · scenario table.

Understand the result

How Much House Can I Afford?

Read the plain-English guide, common mistakes and context behind this calculation.

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Educational estimates only. Not financial, tax, investment, legal, payroll, mortgage, or insurance advice. Results may vary based on rates, tax rules, lender terms, state laws, and personal circumstances. Financial values entered into supported calculators may be stored privately with technical data such as IP address for MFA analytics, security, debugging and product improvement. Do not enter account numbers, passwords, Social Security numbers or login credentials. Privacy details.