How to use this home affordability calculator
Enter the values requested above and select Calculate. Change any input to compare another scenario. The calculation runs locally in your browser and does not require an account.
Formula and method
Example
With $8,000 in gross monthly income, $700 of other debt and a 36% target ratio, the calculator estimates a maximum housing payment before taxes and insurance.
Tips for a useful result
Treat the result as a planning range, not a lender preapproval.
What this calculator is useful for
Estimate a home price range from income, monthly debts, down payment, mortgage rate and a target debt-to-income ratio. The result is intended for quick estimates, checking arithmetic and comparing scenarios. When a result affects a contract, tax filing, medical decision, building-code requirement or other high-stakes situation, verify the result with the appropriate professional or authoritative source.
Frequently asked questions
What does the Home Affordability Calculator calculate?
Estimate a home price range from income, monthly debts, down payment, mortgage rate and a target debt-to-income ratio.
How does the Home Affordability Calculator work?
Maximum housing payment ≈ gross monthly income × target housing ratio − other monthly debt. That payment is then converted to an estimated loan amount.
Is the Home Affordability Calculator free to use?
Yes. ERICH Calculators is free to use and does not require an account.