Step 1 of 3 · Find your budget

Find a home price that fits your budget

Start with your income and debts, then leave room for the life you want to live.

Conventional fixed-rate planning for a primary home in the U.S. Assumptions & sources

Your numbers

Your inputs stay together as you move through the tools. Replace the samples with your own estimates.

Annual household income ($ / year)

Before taxes. Use your combined yearly gross income from pay statements or tax records.

Required monthly debt payments ($ / month)

Minimum credit card payments and required car, student, or other loan payments. Exclude rent and everyday purchases. In the household-budget check, include voluntary extra repayments under Everyday spending and extra debt payments.

Down payment ($)

Money toward the home price. Keep closing costs and your emergency savings separate.

How would you like to set your budget?Not sure what feels comfortable? Check your household budget →

Loan assumptions & monthly costs

These are editable examples, not lender quotes. Taxes, insurance, and dues can change over time.

Interest rate (% / year)

6.5% is a sample, not a current quote. Replace it with a lender’s offered rate (not APR).

Loan term

How many years you have to repay the loan.

Property tax rate (% / year)

Ask the local assessor about taxes after purchase. Annual tax ÷ home price × 100 gives the rate.

Homeowners insurance ($ / month)

Ask an insurer for a quote. Divide a yearly premium by 12. Flood insurance may be extra.

Homeowners association dues ($ / month)

HOA fees help pay for shared services. Check the listing or association documents; enter 0 if none.

Private mortgage insurance rate (% / year)

PMI protects the lender. We use a sample 0.5% of the loan yearly below 20% down. Ask your lender for your rate.

Target debt-to-income ratio (%)

Share of before-tax income for housing plus debts. 36% is a sample planning target, not an approval rule.

Estimated home price

$207,048

30-year fixed rate at 6.5%. Down payment: $20,000 (9.7%).

Use this as a starting price to explore, not a spending goal. A lower price may leave more room for everyday life.

Use this estimated price to check everyday costs →

The navigation tabs keep the home price already in your payment and savings plan. Apply this estimate with “Use this price” below or the everyday-costs link above.

Estimated housing payment

$1,600 / month

Target debt-to-income ratio: 36% of before-tax income for housing and debts combined.

How we estimated your budget

Before-tax monthly income: $5,833. We take 36% for housing and debts, then subtract $500 in monthly debt payments. That leaves $1,600 for housing.

This does not automatically subtract groceries, childcare, utilities, or savings. Use the comfortable-budget option to account for your own spending.

Monthly cost breakdown

Principal & interest: $1,182
Property taxes: $190
Homeowners insurance: $150
Private mortgage insurance: $78
Association dues: $0

What do these costs mean?

Principal & interest repays what you borrow and pays the cost of the loan. Taxes and homeowners insurance are ongoing ownership costs. Private mortgage insurance (PMI) protects the lender, not your home. Association dues pay for shared services, if the home has an association.

Loan amount: $187,048. PMI uses 0.5% of the loan yearly. Ask your lender for the actual cost and cancellation rules.

This is a budget estimate, not loan approval. Allow separately for utilities, maintenance, repairs, and your savings goals. Closing costs are planned in step 3.

Amounts are rounded to whole dollars. Rounded lines may not add up exactly.

Use this price: check payment →

Keep your plan handy

No account needed. Your working numbers stay in this tab as you navigate. Saving stores one plan in this browser on this device; nothing is saved automatically. Use print to save a PDF.

Saving keeps your working inputs, including the home price already in your payment and savings plan. To replace that price with the estimate above, first choose “Use this price: check payment.”

A starting point for a conversation

These tools provide educational estimates, not financial advice or a loan offer. FHA, VA, and USDA loans have different insurance or fee rules. Confirm actual costs, eligibility, and credits with your lender and closing agent.

Read how the estimates work and check the sources

See a worked $75K salary affordability example

Your current assumptions at a glance

Annual household income: 70,000 $ / year
Required monthly debt payments: 500 $ / month
Down payment: 20,000 $
Interest rate: 6.5 % / year
Loan term: 30 years
Property tax rate: 1.1 % / year
Homeowners insurance: 150 $ / month
Homeowners association dues: 0 $ / month
Private mortgage insurance rate: 0.5 % / year
Target debt-to-income ratio: 36 %