Two numbers, two decisions
This tool flips between the two questions every home buyer asks. Monthly Payment tells you what a specific home costs each month — principal, interest, taxes, insurance, and HOA (your full PITI). How Much Can I Afford works backward from your income and debts to a price range lenders are likely to approve.
The 28/36 rule
Most lenders cap your housing payment near 28% of gross monthly income, and your total debt (housing plus everything else) near 36% — the "debt-to-income" ratio. The affordability tab uses your DTI limit to back into the largest loan that keeps you under it.
Why your real budget is lower than the max
The max you qualify for and the payment you'll be comfortable with are rarely the same number. Maxing out leaves nothing for maintenance, furniture, or a bad month. Many buyers target a payment well under their ceiling on purpose.
Frequently asked
- What's included in the monthly payment?
- Principal and interest (the loan itself) plus property taxes, homeowners insurance, and HOA dues — together called PITI. It does not include utilities, maintenance, or PMI, which can add more.
- What DTI do I need to qualify?
- Conventional loans often want total DTI at or below 36%, though some programs allow higher with strong credit or reserves. The calculator lets you set your own limit to test scenarios.
- How much should I put down?
- 20% avoids private mortgage insurance on conventional loans, but many buyers put down less. A larger down payment lowers both your loan and your monthly payment.