Home Affordability Calculator
Take the guesswork out of home shopping with this comprehensive affordability calculator. Enter your household income, available savings, existing debts, and loan preferences to see your maximum home price and estimated monthly payment. The calculator considers down payment requirements, property taxes, insurance, PMI, and debt-to-income ratios to give you a realistic picture of what you can afford. Perfect for first-time buyers, real estate agents, and mortgage professionals.
Try the Calculator
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export function homeAffordabilityCalculator(form: FormTs) {
form.addRow(row => {
row.addTextPanel('header', {
computedValue: () => 'Home Affordability Calculator',
customStyles: { 'font-size': '1.5rem', 'font-weight': '600', 'color': '#1e293b' }
});
});
form.addSpacer({ height: 20 });
// Income Section
const incomeSection = form.addSubform('income', { title: '💰 Your Income' });
incomeSection.addRow(row => {
row.addMoney('annualIncome', {
label: 'Annual Gross Income',
min: 0,
max: 10000000,
defaultValue: 75000,
isRequired: true,
tooltip: 'Your total yearly income before taxes'
}, '1fr');
row.addMoney('spouseIncome', {
label: 'Spouse/Co-borrower Income',
min: 0,
max: 10000000,
defaultValue: 0,
tooltip: 'Annual income of co-borrower if applicable'
}, '1fr');
});
incomeSection.addRow(row => {
row.addMoney('otherIncome', {
label: 'Other Annual Income',
min: 0,
max: 1000000,
defaultValue: 0,
tooltip: 'Bonuses, rental income, investments, etc.'
}, '1fr');
row.addMoney('monthlyDebts', {
label: 'Monthly Debt Payments',
min: 0,
max: 50000,
defaultValue: 500,
tooltip: 'Car loans, student loans, credit cards, etc.'
}, '1fr');
});
// Savings Section
const savingsSection = form.addSubform('savings', { title: '🏦 Your Savings' });
savingsSection.addRow(row => {
row.addMoney('downPayment', {
label: 'Available Down Payment',
min: 0,
max: 5000000,
defaultValue: 50000,
isRequired: true,
tooltip: 'Cash available for down payment'
}, '1fr');
row.addDropdown('downPaymentPercent', {
label: 'Target Down Payment %',
options: [
{ id: '3', name: '3% (FHA minimum)' },
{ id: '5', name: '5%' },
{ id: '10', name: '10%' },
{ id: '20', name: '20% (Avoid PMI)' },
{ id: '25', name: '25%' },
{ id: '30', name: '30%+' }
],
defaultValue: '20',
tooltip: 'Higher down payment = lower monthly payment'
}, '1fr');
});
savingsSection.addRow(row => {
row.addMoney('closingCosts', {
label: 'Closing Costs Reserve',
min: 0,
max: 100000,
defaultValue: 10000,
tooltip: 'Typically 2-5% of home price'
}, '1fr');
row.addMoney('emergencyFund', {
label: 'Emergency Fund (keep)',
min: 0,
max: 500000,
defaultValue: 15000,
tooltip: 'Amount to keep in savings after purchase'
}, '1fr');
});
// Loan Details Section
const loanSection = form.addSubform('loan', { title: '📋 Loan Details' });
loanSection.addRow(row => {
row.addDropdown('loanType', {
label: 'Loan Type',
options: [
{ id: 'conventional', name: 'Conventional' },
{ id: 'fha', name: 'FHA' },
{ id: 'va', name: 'VA' },
{ id: 'usda', name: 'USDA' },
{ id: 'jumbo', name: 'Jumbo' }
],
defaultValue: 'conventional',
isRequired: true
}, '1fr');
row.addDropdown('loanTerm', {
label: 'Loan Term',
options: [
{ id: '15', name: '15 years' },
{ id: '20', name: '20 years' },
{ id: '30', name: '30 years' }
],
defaultValue: '30',
isRequired: true
}, '1fr');
});
loanSection.addRow(row => {
row.addDecimal('interestRate', {
label: 'Interest Rate (%)',
min: 0.5,
max: 15,
step: 0.125,
defaultValue: 6.5,
isRequired: true,
tooltip: 'Current mortgage rates are typically 6-7%'
}, '1fr');
row.addDropdown('creditScore', {
label: 'Credit Score Range',
options: [
{ id: 'excellent', name: 'Excellent (740+)' },
{ id: 'good', name: 'Good (700-739)' },
{ id: 'fair', name: 'Fair (660-699)' },
{ id: 'poor', name: 'Poor (620-659)' },
{ id: 'very-poor', name: 'Below 620' }
],
defaultValue: 'good',
tooltip: 'Credit score affects rate and loan options'
}, '1fr');
});
// Housing Costs Section
const costsSection = form.addSubform('costs', { title: '🏠 Housing Costs' });
costsSection.addRow(row => {
row.addDecimal('propertyTaxRate', {
label: 'Property Tax Rate (%)',
min: 0,
max: 5,
step: 0.1,
defaultValue: 1.2,
tooltip: 'Annual property tax as % of home value'
}, '1fr');
row.addMoney('monthlyHOA', {
label: 'Monthly HOA Fees',
min: 0,
max: 2000,
defaultValue: 0,
tooltip: 'Homeowners association fees if applicable'
}, '1fr');
});
costsSection.addRow(row => {
row.addMoney('annualInsurance', {
label: 'Annual Home Insurance',
min: 0,
max: 20000,
defaultValue: 1500,
tooltip: 'Typical range: $1,000-3,000/year'
}, '1fr');
row.addDropdown('pmiRequired', {
label: 'PMI (if <20% down)',
options: [
{ id: 'yes', name: 'Include PMI estimate' },
{ id: 'no', name: 'No PMI (20%+ down or VA/USDA)' }
],
defaultValue: 'yes'
}, '1fr');
});
// DTI Preferences Section
const dtiSection = form.addSubform('dti', { title: '📊 Affordability Settings' });
dtiSection.addRow(row => {
row.addDropdown('maxDTI', {
label: 'Max Debt-to-Income Ratio',
options: [
{ id: '28', name: 'Conservative (28%)' },
{ id: '36', name: 'Standard (36%)' },
{ id: '43', name: 'FHA Maximum (43%)' },
{ id: '50', name: 'VA Maximum (50%)' }
],
defaultValue: '36',
tooltip: 'Total debt payments / gross income'
}, '1fr');
row.addDropdown('maxHousingRatio', {
label: 'Max Housing Ratio',
options: [
{ id: '25', name: 'Conservative (25%)' },
{ id: '28', name: 'Standard (28%)' },
{ id: '31', name: 'FHA (31%)' },
{ id: '35', name: 'Stretch (35%)' }
],
defaultValue: '28',
tooltip: 'Housing payment / gross income'
}, '1fr');
});
form.addSpacer({ height: 20, showLine: true, lineStyle: 'dashed' });
// Affordability Results Section
const resultsSection = form.addSubform('results', { title: '🎯 What You Can Afford', isCollapsible: false });
resultsSection.addRow(row => {
row.addPriceDisplay('maxHomePrice', {
label: 'Maximum Home Price',
computedValue: () => {
const annualIncome = incomeSection.money('annualIncome')?.value() || 75000;
const spouseIncome = incomeSection.money('spouseIncome')?.value() || 0;
const otherIncome = incomeSection.money('otherIncome')?.value() || 0;
const monthlyDebts = incomeSection.money('monthlyDebts')?.value() || 500;
const downPayment = savingsSection.money('downPayment')?.value() || 50000;
const closingCostsReserve = savingsSection.money('closingCosts')?.value() || 10000;
const emergencyFund = savingsSection.money('emergencyFund')?.value() || 15000;
const downPaymentPercent = parseFloat(savingsSection.dropdown('downPaymentPercent')?.value() || '20') / 100;
const interestRate = (loanSection.decimal('interestRate')?.value() || 6.5) / 100 / 12;
const loanTerm = parseInt(loanSection.dropdown('loanTerm')?.value() || '30') * 12;
const propertyTaxRate = (costsSection.decimal('propertyTaxRate')?.value() || 1.2) / 100 / 12;
const monthlyHOA = costsSection.money('monthlyHOA')?.value() || 0;
const annualInsurance = costsSection.money('annualInsurance')?.value() || 1500;
const monthlyInsurance = annualInsurance / 12;
const maxDTI = parseFloat(dtiSection.dropdown('maxDTI')?.value() || '36') / 100;
const maxHousingRatio = parseFloat(dtiSection.dropdown('maxHousingRatio')?.value() || '28') / 100;
const totalMonthlyIncome = (annualIncome + spouseIncome + otherIncome) / 12;
// Calculate max payment based on DTI
const maxTotalDebt = totalMonthlyIncome * maxDTI;
const maxHousingFromDTI = maxTotalDebt - monthlyDebts;
// Calculate max payment based on housing ratio
const maxHousingFromRatio = totalMonthlyIncome * maxHousingRatio;
// Use lower of the two
const maxHousingPayment = Math.min(maxHousingFromDTI, maxHousingFromRatio);
// Back-calculate home price from payment
// P&I = maxPayment - taxes - insurance - HOA - PMI
// We'll iterate to find the right price since taxes and PMI depend on price
let homePrice = 100000;
for (let i = 0; i < 20; i++) {
const loanAmount = homePrice * (1 - downPaymentPercent);
// Monthly P&I
const monthlyPI = loanAmount * (interestRate * Math.pow(1 + interestRate, loanTerm)) /
(Math.pow(1 + interestRate, loanTerm) - 1);
// Monthly property tax
const monthlyTax = homePrice * propertyTaxRate;
// PMI (roughly 0.5-1% annually if down < 20%)
let monthlyPMI = 0;
if (downPaymentPercent < 0.2 && costsSection.dropdown('pmiRequired')?.value() === 'yes') {
monthlyPMI = (loanAmount * 0.007) / 12;
}
const totalPayment = monthlyPI + monthlyTax + monthlyInsurance + monthlyHOA + monthlyPMI;
if (Math.abs(totalPayment - maxHousingPayment) < 10) break;
// Adjust home price
homePrice = homePrice * (maxHousingPayment / totalPayment);
}
// Also check against available down payment
const availableForDown = downPayment - closingCostsReserve - emergencyFund;
const maxFromSavings = availableForDown / downPaymentPercent;
return Math.round(Math.min(homePrice, maxFromSavings));
},
variant: 'large'
}, '1fr');
row.addPriceDisplay('recommendedPrice', {
label: 'Comfortable Price (Conservative)',
computedValue: () => {
const annualIncome = incomeSection.money('annualIncome')?.value() || 75000;
const spouseIncome = incomeSection.money('spouseIncome')?.value() || 0;
const otherIncome = incomeSection.money('otherIncome')?.value() || 0;
const monthlyDebts = incomeSection.money('monthlyDebts')?.value() || 500;
const downPayment = savingsSection.money('downPayment')?.value() || 50000;
const closingCostsReserve = savingsSection.money('closingCosts')?.value() || 10000;
const emergencyFund = savingsSection.money('emergencyFund')?.value() || 15000;
const downPaymentPercent = parseFloat(savingsSection.dropdown('downPaymentPercent')?.value() || '20') / 100;
const interestRate = (loanSection.decimal('interestRate')?.value() || 6.5) / 100 / 12;
const loanTerm = parseInt(loanSection.dropdown('loanTerm')?.value() || '30') * 12;
const propertyTaxRate = (costsSection.decimal('propertyTaxRate')?.value() || 1.2) / 100 / 12;
const monthlyHOA = costsSection.money('monthlyHOA')?.value() || 0;
const annualInsurance = costsSection.money('annualInsurance')?.value() || 1500;
const monthlyInsurance = annualInsurance / 12;
const totalMonthlyIncome = (annualIncome + spouseIncome + otherIncome) / 12;
// Conservative: 25% of income for housing
const maxHousingPayment = totalMonthlyIncome * 0.25;
let homePrice = 100000;
for (let i = 0; i < 20; i++) {
const loanAmount = homePrice * (1 - downPaymentPercent);
const monthlyPI = loanAmount * (interestRate * Math.pow(1 + interestRate, loanTerm)) /
(Math.pow(1 + interestRate, loanTerm) - 1);
const monthlyTax = homePrice * propertyTaxRate;
let monthlyPMI = 0;
if (downPaymentPercent < 0.2 && costsSection.dropdown('pmiRequired')?.value() === 'yes') {
monthlyPMI = (loanAmount * 0.007) / 12;
}
const totalPayment = monthlyPI + monthlyTax + monthlyInsurance + monthlyHOA + monthlyPMI;
if (Math.abs(totalPayment - maxHousingPayment) < 10) break;
homePrice = homePrice * (maxHousingPayment / totalPayment);
}
const availableForDown = downPayment - closingCostsReserve - emergencyFund;
const maxFromSavings = availableForDown / downPaymentPercent;
return Math.round(Math.min(homePrice, maxFromSavings));
},
variant: 'large'
}, '1fr');
});
// Monthly Payment Breakdown Section
const paymentSection = form.addSubform('payment', { title: '📅 Monthly Payment Estimate', isCollapsible: false });
paymentSection.addRow(row => {
row.addPriceDisplay('monthlyPI', {
label: 'Principal & Interest',
computedValue: () => {
const annualIncome = incomeSection.money('annualIncome')?.value() || 75000;
const spouseIncome = incomeSection.money('spouseIncome')?.value() || 0;
const otherIncome = incomeSection.money('otherIncome')?.value() || 0;
const downPaymentPercent = parseFloat(savingsSection.dropdown('downPaymentPercent')?.value() || '20') / 100;
const interestRate = (loanSection.decimal('interestRate')?.value() || 6.5) / 100 / 12;
const loanTerm = parseInt(loanSection.dropdown('loanTerm')?.value() || '30') * 12;
const maxHousingRatio = parseFloat(dtiSection.dropdown('maxHousingRatio')?.value() || '28') / 100;
const totalMonthlyIncome = (annualIncome + spouseIncome + otherIncome) / 12;
const maxHousingPayment = totalMonthlyIncome * maxHousingRatio;
// Simplified home price estimate
const homePrice = maxHousingPayment * 150; // rough estimate
const loanAmount = homePrice * (1 - downPaymentPercent);
const monthlyPI = loanAmount * (interestRate * Math.pow(1 + interestRate, loanTerm)) /
(Math.pow(1 + interestRate, loanTerm) - 1);
return Math.round(monthlyPI);
},
variant: 'default'
}, '1fr');
row.addPriceDisplay('monthlyTax', {
label: 'Property Tax',
computedValue: () => {
const annualIncome = incomeSection.money('annualIncome')?.value() || 75000;
const spouseIncome = incomeSection.money('spouseIncome')?.value() || 0;
const otherIncome = incomeSection.money('otherIncome')?.value() || 0;
const maxHousingRatio = parseFloat(dtiSection.dropdown('maxHousingRatio')?.value() || '28') / 100;
const propertyTaxRate = (costsSection.decimal('propertyTaxRate')?.value() || 1.2) / 100 / 12;
const totalMonthlyIncome = (annualIncome + spouseIncome + otherIncome) / 12;
const maxHousingPayment = totalMonthlyIncome * maxHousingRatio;
const homePrice = maxHousingPayment * 150;
return Math.round(homePrice * propertyTaxRate);
},
variant: 'default'
}, '1fr');
});
paymentSection.addRow(row => {
row.addPriceDisplay('monthlyInsurance', {
label: 'Home Insurance',
computedValue: () => {
const annualInsurance = costsSection.money('annualInsurance')?.value() || 1500;
return Math.round(annualInsurance / 12);
},
variant: 'default'
}, '1fr');
row.addPriceDisplay('monthlyPMI', {
label: 'PMI (if applicable)',
computedValue: () => {
const downPaymentPercent = parseFloat(savingsSection.dropdown('downPaymentPercent')?.value() || '20') / 100;
const annualIncome = incomeSection.money('annualIncome')?.value() || 75000;
const spouseIncome = incomeSection.money('spouseIncome')?.value() || 0;
const otherIncome = incomeSection.money('otherIncome')?.value() || 0;
const maxHousingRatio = parseFloat(dtiSection.dropdown('maxHousingRatio')?.value() || '28') / 100;
if (downPaymentPercent >= 0.2 || costsSection.dropdown('pmiRequired')?.value() === 'no') {
return 0;
}
const totalMonthlyIncome = (annualIncome + spouseIncome + otherIncome) / 12;
const maxHousingPayment = totalMonthlyIncome * maxHousingRatio;
const homePrice = maxHousingPayment * 150;
const loanAmount = homePrice * (1 - downPaymentPercent);
return Math.round((loanAmount * 0.007) / 12);
},
variant: 'default'
}, '1fr');
});
// Summary Section
const summarySection = form.addSubform('summary', {
title: '💵 Total Monthly Payment',
isCollapsible: false,
sticky: 'bottom'
});
summarySection.addRow(row => {
row.addPriceDisplay('totalMonthly', {
label: 'Est. Monthly Payment',
computedValue: () => {
const annualIncome = incomeSection.money('annualIncome')?.value() || 75000;
const spouseIncome = incomeSection.money('spouseIncome')?.value() || 0;
const otherIncome = incomeSection.money('otherIncome')?.value() || 0;
const maxHousingRatio = parseFloat(dtiSection.dropdown('maxHousingRatio')?.value() || '28') / 100;
const totalMonthlyIncome = (annualIncome + spouseIncome + otherIncome) / 12;
return Math.round(totalMonthlyIncome * maxHousingRatio);
},
variant: 'large'
});
});
summarySection.addRow(row => {
row.addTextPanel('disclaimer', {
computedValue: () => 'This is an estimate only. Actual affordability depends on credit score, debt, and lender requirements. Get pre-approved for accurate figures.',
customStyles: { 'font-size': '0.85rem', 'color': '#64748b', 'text-align': 'center' }
});
});
form.configureSubmitButton({
label: 'Get Pre-Approval Information'
});
}
Frequently Asked Questions
What is debt-to-income ratio (DTI)?
DTI is the percentage of your gross monthly income that goes toward debt payments. Lenders typically want total DTI below 36-43%, with housing costs (front-end ratio) below 28-31%. Lower DTI means better loan terms.
How much should I put down on a house?
While 20% down avoids PMI and gets better rates, many programs allow 3-5% down. FHA requires 3.5%, VA and USDA offer 0% down for qualified buyers. Consider your total savings and emergency fund needs.
What's included in the monthly payment?
PITI: Principal, Interest, Taxes, and Insurance. This calculator also includes PMI (if applicable) and HOA fees. Utilities, maintenance, and repairs are additional costs not included here.
Should I buy at my maximum affordability?
Generally, no. The 'comfortable' estimate (25% of income) leaves room for savings, retirement, and unexpected expenses. Buying at maximum stretches your budget thin and leaves little financial flexibility.
Can mortgage brokers customize this calculator?
Yes! Adjust interest rates, add your company's loan programs, customize DTI limits, and embed it on your website to help clients understand their buying power before applying.