CALTRX

Home Affordability Calculator

Find your maximum home price based on the 28/36 rule.

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Max housing = min(Income×28%, (Income×36%−Debts)); Solve for Price from max P&I payment
28%= Front-end DTI limit (housing only)
36%= Back-end DTI limit (all debts)
DTI= Debt-to-income ratio

Tips & Notes

  • ✓28/36 rule is a guideline — some lenders allow higher ratios.
  • ✓Include property tax (~1-2%) and insurance (~0.5-1%) in housing cost.
  • ✓20% down avoids PMI.

Common Mistakes

  • ✗Forgetting taxes, insurance, PMI in payment.
  • ✗Using net instead of gross income.
  • ✗Not accounting for other monthly obligations.

Home Affordability Calculator Overview

What This Calculator Does

The House Affordability Calculator provides accurate computations using standard formulas with step-by-step explanations. House Affordability Calculator

How It Works

Enter your values into the input fields and the calculator instantly computes results using verified mathematical formulas. Every intermediate step is shown so you can follow the logic and verify the output.

Applications

This tool serves students checking homework, professionals making quick calculations, and anyone needing reliable numerical results. The step-by-step breakdown supports both practical use and learning.

Accuracy

All calculations use IEEE 754 double-precision floating-point arithmetic, providing approximately 15 significant digits of accuracy.

Frequently Asked Questions

Housing ≤ 28% of gross income. Total debt ≤ 36%.

Car loans, student loans, credit card minimums, child support.

Required below 20% down. Adds 0.5-1% of loan annually.

Get pre-approved to know your actual borrowing capacity.