| Front-end limit (housing only) | $2,333.33 |
|---|---|
| Back-end limit after debts | $2,500.00 |
| Binding limit | Front-end (28%) |
| Principal & interest (monthly) | $1,880.60 |
| Property tax (monthly) | $327.74 |
| Home insurance (monthly) | $125.00 |
| Down payment share of price | 16.78% |
| Total debt-to-income ratio | 34% |
The front-end limit is binding: housing is capped at 28% of your $8,333.33 monthly income ($2,333.33). Your debts would allow $2,500.00 under the 36% back-end rule, so paying off debt would not raise this budget — a higher income, bigger down payment or lower rate would. With under 20% down, most conventional loans add PMI, which is not included here and would lower the price.
| Rate | Max home price | Loan amount | Principal & interest |
|---|---|---|---|
| 5.5% | $386,532 | $326,532 | $1,854.01 |
| 6% | $371,528 | $311,528 | $1,867.77 |
| 6.5% | $357,531 | $297,531 | $1,880.60 |
| 7% | $344,468 | $284,468 | $1,892.57 |
| 7.5% | $332,270 | $272,270 | $1,903.75 |
Home Affordability Calculator · free calculator by CalcWorthy