Home Affordability Calculator

Wondering how much home you may be able to afford in Herriman, Daybreak, South Jordan, or the surrounding area? This calculator estimates a practical home-price range using your household income, recurring monthly debts, down payment, loan assumptions, and expected ownership costs.

How to Use This Affordability Calculator

Start with your gross household income before taxes and your required monthly debt payments. Then enter the down payment you expect to use, along with an estimated interest rate and loan term. For a more realistic result, add property taxes, homeowners insurance, HOA fees, PMI, and closing-cost assumptions.

The estimate uses the lower of your selected housing-payment limit and total debt-to-income limit. You can also switch to monthly-budget mode if you already know the maximum housing payment you want to stay under.

All calculations run in your browser. Results are planning estimates and are not a loan approval or lending quote.

Affordability setup

Ownership cost assumptions
When this option is disabled, maintenance is shown in the estimated ownership cost but does not reduce the home price supported by the lender-style housing budget.
Comfort adjustment (optional)

Comfort versus qualification: The maximum amount a lender may approve is not necessarily the amount that will feel comfortable every month. A safety buffer provides a more conservative target.

Affordability results

Estimated affordable home price
$ā€”
Includes the selected safety buffer
Estimated monthly housing cost
$ā€”
P&I + taxes + insurance + HOA + PMI
Estimated loan amount
$ā€”
ā€”
Monthly principal & interest
$ā€”
Based on the selected rate and term
Estimated upfront cash needed
$ā€”
Down payment + estimated closing costs
Estimated total DTI
ā€”%
Housing payment plus monthly debts

Estimated monthly cost breakdown

ā€”
How your housing budget was calculated
In income mode, the calculator compares the housing-ratio limit with the amount remaining under the total debt-to-income limit. The lower result becomes the starting monthly housing budget. The selected safety buffer is then applied.
Calculation Estimated amount
Gross monthly household income $ā€”
Housing-ratio payment limit $ā€”
Total DTI payment limit after existing debts $ā€”
Starting monthly housing budget $ā€”
Safety-buffer adjustment $ā€”
Adjusted monthly housing budget $ā€”
Maintenance reserve $ā€”
Estimated monthly ownership cost $ā€”
Estimated home-price range
These scenarios help distinguish a more conservative target from the calculated upper estimate. They are planning comparisons, not separate loan approvals.
Scenario Estimated home price Estimated housing cost Description
Conservative $ā€” $ā€” Leaves additional room below the calculated target.
Comfortable target $ā€” $ā€” Uses your selected ratios, costs, and safety buffer.
Upper estimate $ā€” $ā€” Shows the estimate before applying the safety buffer.
Estimated monthly snapshot
Monthly item Estimated amount
Principal and interest $ā€”
Property taxes $ā€”
Homeowners insurance $ā€”
HOA fees $ā€”
PMI $ā€”
Housing payment $ā€”
Maintenance reserve $ā€”
Existing monthly debts $ā€”
Housing, maintenance, and debts $ā€”
What this estimate does and does not include

This calculator estimates affordability using the information entered above. It does not evaluate your credit score, employment history, income documentation, loan-program requirements, mortgage insurance rules, property eligibility, interest-rate adjustments, lender overlays, or available seller and lender credits.

Utilities, furnishing costs, moving expenses, renovations, special assessments, changing property taxes, and unexpected repairs may also affect what feels comfortable after purchasing a home.