GuideStead.

First home affordability calculator

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Estimate your full monthly cost of owning a home, then see how it compares to your income using a common lender guideline.

How to use this: Enter the home price, your down payment, and the mortgage terms you're considering. Then add property tax, insurance, and any HOA dues — this suite doesn't model those per-location since they vary too much to estimate reliably, so enter your own numbers or a listing's estimate. Add your income and other debt payments to see your estimated debt-to-income ratios.
Home & loan
Most common are 15 or 30 years, but enter whatever your loan uses (e.g. 10, 20, 25, 40).
Ongoing costs
These vary by location and policy, so enter your own numbers rather than a modeled estimate.
Use your local rate. This applies it to the home price, not the assessed value your tax bill actually uses — those can differ, especially right after a sale.
Private mortgage insurance is typically required on conventional loans with less than 20% down. Only applied here if your down payment above is below 20%.
Income & other debts
Used only for the debt-to-income check below — doesn't affect the cost breakdown above.
Car loans, student loans, credit card minimums, and similar — not including the mortgage itself.
Estimated monthly housing cost
Loan amountHome price − down payment
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Principal & interest
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Property tax
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Homeowners insurance
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PMI
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HOA dues
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Total monthly housing cost
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Front-end ratio
Housing cost ÷ gross monthly income
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Lenders often like to see this at 28% or below. Some loans (like FHA) allow more — this is a helpful guideline, not a hard rule. Why it varies.
Back-end ratio
Housing cost + other debts ÷ gross monthly income
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Lenders often like to see this at 36% or below. Some loans allow more, especially with strong credit — this is a helpful guideline, not a hard rule. Why it varies.
Home price, down payment, loan terms, property tax rate, insurance, PMI rate, HOA dues, income, and other debts are saved automatically in this browser on this device.
Educational estimate, not financial advice. This estimates recurring monthly housing cost only: loan principal & interest, property tax, homeowners insurance, PMI, and HOA dues, all as flat entered rates or amounts. It does not include closing costs, maintenance or repairs, utilities, or the loan-approval process itself — actual lender approval depends on your credit, reserves, and the loan program, and can differ from the guideline shown above. Property tax is applied to the entered purchase price, not an assessed value, which can differ. PMI is shown as a flat ongoing monthly cost and is not modeled to reduce or cancel as you build equity over time. For an actual purchase, confirm real numbers with a lender. Full disclaimer.
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