Skip to main content
Debra AllenREALTOR® · Garland + DFW
Talk with Debra

Planning tool

How much house can I afford?

Estimate a responsible planning range from income, debts, rate, and cash available.

Estimate a planning price

See a conservative planning estimate based on household income, monthly debt, available down payment, and ownership costs.

$
$

Include recurring minimum payments such as auto, student, personal, and credit-card debt.

$
%
%
%
$
%

Estimated planning price

$254,400

not a pre-approval or lending decision

Monthly housing budget$1,950
Estimated monthly housing cost$1,949
Estimated loan amount$234,400
Estimated total debt-to-income36.0%

Lower than you hoped? That's useful information, not a verdict. A larger down payment, less monthly debt, an assistance program or a different area can change the picture, and a lender confirms what's actually possible.

Book consultationContinue planning

Your numbers aren't saved or sent anywhere. Want a second opinion? Note your result and bring it to a consultation with Debra.

Uses 28% housing and 36% total-debt planning limits. Lenders use their own underwriting rules, verified income, credit, reserves, program requirements, and property data.

The short answer

What decides how much house you can afford?

Mostly your income, your existing debts and the full monthly cost of owning. This calculator applies a common lending guideline: keep your total monthly housing cost at or below 28% of gross monthly income, and housing plus your other monthly debt payments at or below 36%. It uses whichever limit is lower, then finds the highest home price whose full monthly cost — principal, interest, taxes, insurance, mortgage insurance and HOA dues — fits inside it. Lenders set their own limits, so treat the result as a planning range, not an approval.

What this estimate includes

  • Gross household income and the minimum payments on your existing debts.
  • The down payment you have available, the interest rate and the loan term.
  • Property taxes and homeowners insurance as a yearly percentage of the price.
  • HOA dues, and mortgage insurance whenever the down payment is under 20% of the price.

What it leaves out

  • Closing costs and the savings you keep in reserve — the closing cost calculator estimates the first.
  • How your credit affects the rate a lender offers.
  • Everyday spending that is not a debt payment, such as childcare, transport and savings goals.
  • Each lender's and program's own debt-to-income limits.

Common questions

What people ask next

What is a debt-to-income ratio?

Your monthly debt payments, including the new housing payment, divided by your gross monthly income. The results show the estimate's total debt-to-income, so you can see how close a scenario sits to the 36% guideline this calculator uses.

Should I spend the full amount the calculator shows?

Not necessarily. The guideline sets a ceiling, not a target. A payment that leaves room for savings, repairs and the rest of your life is often the more comfortable number, and that is worth deciding before you start looking at homes.

Is this the same as being pre-approved?

No. A pre-approval comes from a lender after reviewing your income, debts, credit and documents. This estimate uses only the numbers you type, and nothing you enter is saved.

Keep planning

Where this number fits

Rates, approval and the final figures come from a lender. Debra can help you read an estimate in context and know which questions to bring them.

Review it with Debra