Your Finances
Household income before tax
Car, student & credit-card payments
Cash you'll put toward the home
FHA loans allow a higher debt-to-income ratio (43% back-end), so they qualify you for more — at the cost of mortgage insurance.
Loan & Housing Costs
Condo HOAs often $200–$600/mo; single-family $0–$200
Rough starting rates by credit score — pick one, then fine-tune the rate above. Actual rates vary by lender and the day.
Annual, as a % of the home's value
Annual, as a % of the home's value
Home You Can Afford
$342,205
$282,205 loan + $60,000 down
Your price is capped by the front-end (28%) housing limit. Lenders cap the housing payment at 28% of gross income regardless of your other debts.
This $2,240/mo housing payment is about 35% of estimated take-home pay. That's a stretch — many advisers suggest keeping housing under 35% of take-home, since the lender's limit is set on gross (pre-tax) income.
ℹ️At this price your $60,000 down payment is 17.5% — below 20%, so the lender will likely require private mortgage insurance (PMI). A larger down payment removes it. Plan your down payment →
💡This is the lender's ceiling, not a target. Many buyers deliberately spend below it to keep room for savings and emergencies. Compare renting vs buying →
Monthly Payment (PITI)
$2,240
Principal, interest, tax & insurance
Principal & Interest
$1,784
The mortgage portion alone
Front-End DTI
28.0%
Housing ÷ income · limit 28%
Back-End DTI
33.0%
All debt ÷ income · limit 36%
Built with Calcerra — free online calculators.