How Much House Can You Afford?
Budget before shopping
Start with reliable monthly income, debts, recurring expenses and savings goals. The amount a lender may approve is not necessarily the amount you will feel comfortable spending.
Use a payment target that leaves room for maintenance, transportation, childcare and unexpected expenses. Avoid treating a generic debt-to-income ratio as personalized financial advice.
Include ownership costs
Your budget should include principal and interest, taxes, insurance, mortgage insurance and association dues. Taxes and insurance can increase; maintenance is separate from the mortgage payment.
Cash to close also matters. Down payment, lender and settlement charges, prepaid expenses, moving and immediate repairs can compete for the same savings.
Stress-test the estimate
Try a higher interest rate, higher taxes and a repair expense before settling on a price. Check whether a calculator includes the costs that apply to your property.
Use a lender assessment to understand eligibility and a personal budget to choose a sustainable amount. Calculator results are estimates, not approval decisions.