Home Affordability Calculator
Find your real home-buying budget by checking both constraints that actually limit you: how much cash you have for a down payment and closing costs, and how much a lender will qualify you for based on income. Your true affordable price is whichever number is lower — this calculator shows both and tells you which one is binding.
Want just the income-qualification number? See our Mortgage Affordability Calculator, or all our calculators.
Glossary
Most buyers hit one of two walls first: they run out of cash for the down payment and closing costs, or they run out of qualifying income for the loan a lender will approve. Whichever number is lower is your real ceiling — the other one doesn’t matter because you’d hit the binding constraint first.
You qualify for more loan than you can actually fund the down payment and closing costs on. Options include saving more, choosing a lower down payment percentage (if the loan program allows it), or looking at gift funds or down payment assistance programs.
You have more cash than a lender will let you borrow against given your income and debts. Paying down other debts, adding a co-borrower, or extending the loan term can all raise the income-qualified number in some cases.
Cash needed at closing isn’t just the down payment — attorney fees, mortgage recording tax, title insurance, and other closing costs are due at the same time, out of the same pool of savings. Ignoring them would overstate what you can actually afford to close on.