U.S. Mortgage Index

U.S. Mortgage Index

Affordability Calculator

Explore a home price that may fit your income, debts, down payment and housing-cost assumptions.

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Income and debts

Income before taxes and deductions.

Include recurring monthly debts used in this planning estimate.

The estimate uses a dollar down payment. Percent converts to dollars using the estimated or current home price. It does not solve a percentage of an unknown price.

Loan assumptions

Annual note rate used for this estimate. Not a current lender offer.

Loan term

Taxes, insurance and other housing costs

Property tax

Effective-rate estimates use the home price as the assumed tax base and do not model exemptions or reassessment rules. The shared affordability solver uses the selected percentage when that mode is controlling.

Enter the yearly homeowners insurance premium.

Optional yearly flood, wind or other insurance.

Enter the monthly mortgage-insurance amount. Leave blank if unknown.

No HOA assumed until you change this amount.

Optional recurring monthly housing costs. Do not include maintenance or utilities.

Planning limits

These are editable planning assumptions, not lender approval limits.

If entered, USMI uses the lower of this amount and the ratio-based housing budget.

Optional funds available now for the cash-to-close preview. This does not change the estimated home price or replace the down payment.

Optional reserves preference for the cash-to-close preview, not a lender fee.

Estimated home price

Enter income, debts, down payment, and the loan and housing-cost assumptions to explore a home price. An incomplete edit hides any earlier estimate.

How this estimate works

Gross annual income is converted to a monthly figure for the planning ratios.

Monthly debt payments reduce the total debt-to-income budget. They are not credit-report classifications.

Housing ratio and total debt-to-income ratio are editable planning assumptions, not lender approval limits. USMI uses the lower of those budgets and any optional maximum housing cost.

Known taxes, insurance, PMI, HOA, and other monthly housing costs reduce the amount left for principal and interest.

Rate and term change the loan amount that the remaining principal-and-interest budget can support.

An effective property-tax percentage is part of the shared inverse estimate and uses the estimated home price as the assumed tax base.

The result is a planning estimate, not approval, underwriting, or lending advice.

Sources and definitions

Official sources

Determining a price
CFPB determining a price
Debt-to-income
CFPB debt-to-income

Key terms