What debt-to-income ratio do lenders typically want to see?

Most lenders prefer a front-end ratio of 28% or less for housing costs and a back-end ratio of 36% or less when including other debts, though some programs allow higher thresholds.

How much down payment is needed to avoid private mortgage insurance?

A 20% down payment typically eliminates PMI, but some lenders offer programs that allow lower down payments with PMI built into the rate.

Can I afford a home if I have student loans or car payments?

Existing debt is factored into your debt-to-income ratio; the calculator subtracts your monthly debt payments from the amount you can spend on housing.

Does the interest rate used in the calculator match current market rates?

The rate field lets you input your expected mortgage rate; actual rates vary by lender, credit score, and loan term.

What other costs should I budget for beyond the home price?

Property taxes, home insurance, HOA fees, and maintenance costs are ongoing expenses that should be factored into your total housing budget.

Loans & Mortgages2 options compared

Affordability Calculator

Calculates the home price you can afford based on your income, existing debts, down payment, and interest rate, helping users plan their housing budget effectively. Homebuyers, mortgage shoppers, and anyone looking to understand how much house they qualify for will find this tool useful. It provides a quick, easy way to gauge affordability, ensuring potential buyers don't overstretch financially.

Finance calculators

Editors’ Top PickBased on community votes

NerdWallet Financial Calculators

nerdwallet.com

Determines the home price you can afford from income, debts, down payment, and rate.

Open NerdWallet Financial Calculators Read review →

Other OptionsRanked by votes

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SmartCalc
smartcalc.top
Free home affordability calculator: find out how much house you can afford based on income, debts, down payment, and ...
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Side by side

Affordability Calculator options compared

Tool	Best for	Strengths	Limitations
NerdWallet Financial Calculators nerdwallet.com	Quick home price estimates	Integrates income, debts, down payment, and rate simultaneously Uses established debt-to-income ratios for results	No detailed loan term customization Focuses on general affordability rather than specific monthly payments
SmartCalc smartcalc.top	Detailed loan term modeling	Includes property tax, insurance, and HOA fees in calculations Uses 28/36 DTI rule with clear max debt ratios Shows down payment impact on PMI and monthly payment	More fields to fill out than a simple income-based estimate Less focused on quick general checks

Buyer's guide

How to choose a affordability calculator

If you need a fast sense of whether a home price fits your budget, start with NerdWallet's income-and-debt focused calculator. If you are comparing specific loan scenarios — for example, how a larger down payment or different property taxes change your monthly cost — SmartCalc gives you the fields to model those details side by side.

Questions

Affordability Calculator FAQ

What debt-to-income ratio do lenders typically want to see?: Most lenders prefer a front-end ratio of 28% or less for housing costs and a back-end ratio of 36% or less when including other debts, though some programs allow higher thresholds.
How much down payment is needed to avoid private mortgage insurance?: A 20% down payment typically eliminates PMI, but some lenders offer programs that allow lower down payments with PMI built into the rate.
Can I afford a home if I have student loans or car payments?: Existing debt is factored into your debt-to-income ratio; the calculator subtracts your monthly debt payments from the amount you can spend on housing.
Does the interest rate used in the calculator match current market rates?: The rate field lets you input your expected mortgage rate; actual rates vary by lender, credit score, and loan term.
What other costs should I budget for beyond the home price?: Property taxes, home insurance, HOA fees, and maintenance costs are ongoing expenses that should be factored into your total housing budget.

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