How much home might fit your budget?
Pick a loan program, then enter income, monthly debts, down payment, and an estimated rate. Comfortable and stretch targets use that program’s DTI guidelines. Runs entirely in your browser.
Estimated home-price range
$0 – $0
- Comfortable target
- $0
- Upper stretch
- $0
- Comfortable DTI used
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- Stretch DTI used (max)
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At the comfortable target
Estimated monthly principal & interest: $0
Estimated taxes and insurance (rough placeholder, 1.5% of price per year): $0 / month
Combined housing estimate (P&I + taxes/insurance placeholder): $0 / month
Estimate only. Not a pre-approval, rate quote, or commitment to lend. DTI caps shown are planning guidelines and can change with credit, reserves, compensating factors, and lender overlays. Your actual numbers depend on a full review of credit, income, assets, and the property.
How do lenders decide how much house you can afford?
Lenders compare your monthly debts to your gross monthly income, called debt-to-income or DTI. The front-end ratio counts only the new housing payment. The back-end ratio adds car loans, student loans, card minimums, and other debts that show on credit. Each program sets its own limits, and automated underwriting can approve higher or lower ratios depending on credit, reserves, and down payment.
Written by Keith Lopez, NMLS #2814077. Educational estimate only, not a commitment to lend.
Common questions
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Should I use gross or take-home income?
Gross income, before taxes and deductions. That is what lenders use to calculate DTI. For hourly, overtime, bonus, or self-employed income, lenders often average the last two years, so use a conservative number if your income varies.
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What debts should I include?
Include the minimum monthly payment on anything that shows on your credit report: car loans, student loans, credit cards, personal loans, and child support or alimony. Do not include utilities, phone bills, groceries, or current rent, since the new house payment replaces rent.
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What is the difference between the comfortable and stretch numbers?
Stretch uses the full maximum DTI for the program you picked. Comfortable uses 80% of that maximum so there is room left in your monthly budget. Many buyers are happier closer to the comfortable number, even when they could qualify for more.
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Why is my USDA range lower than FHA?
USDA has tighter housing-payment ratios than FHA, so the same income supports a lower payment. USDA also has household income limits and property location rules that this calculator does not check.
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Does this include property taxes and insurance?
The price range backs out an estimate for taxes, insurance, and mortgage insurance. Actual taxes vary a lot by county, and coastal insurance in places like Charleston, Myrtle Beach, or Savannah can run well above inland estimates, so real numbers can move your range.
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Is this the same as a pre-approval?
No. It is an estimate only, not a pre-approval, a rate quote, or a commitment to lend. A pre-approval means a loan officer reviewed your credit, income, and assets. A free Mortgage Strategy Session is the fastest way to replace this estimate with real numbers.
Read more before you run the numbers
- First-Time Buyers Closing Costs for First-Time Buyers in South Carolina: What to Budget Beyond Your Down Payment First-time buyers in South Carolina need to budget more than just a down payment. This guide explains attorney closing requirements, common fee categories, and strategies to reduce out-of-pocket costs.
- First-Time Buyers FHA Down Payment in Richmond Hill, GA: What First-Time Buyers Need to Know FHA loans require as little as 3.5% down in Richmond Hill, GA, and down payment assistance programs may cover that cost. Here is what first-time buyers need to know before applying.
- Loan Programs Conventional Loan Down Payment Requirements in North Carolina Conventional loans in North Carolina allow down payments starting at 3% for eligible buyers, but the right amount depends on your savings, PMI tolerance, and cash-to-close budget. Here is what you need to know before you decide.
Try another calculator.
All of these run in your browser. Estimates only, not a pre-approval or rate quote.
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Payment calculator
Ballpark monthly principal and interest from a home price.
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Rent vs. buy
Compare estimated renting costs to buying over a set number of years.
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Rate options
Compare rates with and without points, including monthly savings and breakeven.
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Property compare
Compare up to three homes and download a payment breakdown PDF.
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Program compare
Pick any 2 to 4 programs, including FHA 20 vs FHA 30 or a doctor loan, and compare cash to close.
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Refinance compare
Compare refinance options by program, fixed or ARM, points, and cash to close.
Open →
Ready for numbers that match your file?
A free Mortgage Strategy Session turns this estimate into a clear budget and next step.
Keith Lopez, NMLS #2814077 | NEXA Mortgage, LLC, NMLS #1660690 | Licensed in NC, SC & GA | Equal Housing Opportunity