Home Affordability Calculator
Find out how much house you can afford based on your financial situation
Income Sources
Enter your sources of income. Add as many as needed.
Primary Income
Savings for Down Payment
Enter your available savings for a down payment.
$
Credit Card Debt
Enter your credit card debt information. Add as many as needed.
Other Loans
Enter any other loans you have, such as car loans, student loans, etc.
Monthly Expenses
Enter your estimated monthly expenses.
Food & Groceries
$
Utilities
$
Internet & Phone
$
Transportation
$
Down Payment Preference
How much would you prefer to put down as a down payment?
Desired Housing Budget
What percentage of your gross income would you like to spend on housing?
Recommendation Guidelines
- For financial flexibility (investing, saving, early retirement): Aim for 20%–25% of gross income.
- In high cost-of-living areas: It's okay to push closer to 35% of gross income, but cut other spending.
- With variable income (commissions, freelancing): Aim lower (20%–25%) to protect against lean months.
Bank Standards (For Reference)
Banks typically use these ratios to determine how much you can afford:
| GDS (Gross Debt Service) | Housing costs only (mortgage + property tax + heating + 50% condo fees) |
≤ 32% of gross income |
| TDS (Total Debt Service) | Housing costs + all other debts (loans, credit cards, car payments) |
≤ 40–44% of gross income |
15%
20%
25%
30%
35%
40%
25% of gross income
Your Home Affordability Results
Based on Your Financial Goals
$0
Maximum home price you can afford
Down payment:
$0
Estimated mortgage amount:
$0
Monthly payment (est.):
$0
% of income for housing:
0%
Bank Standards (GDS/TDS)
$0
Maximum home price a bank may approve
Down payment:
$0
Estimated mortgage amount:
$0
Monthly payment (est.):
$0
GDS ratio:
0%
TDS ratio:
0%