Question 1

What DTI should I use?

Accepted Answer

28% front-end and 36% back-end are common guidelines. Adjust them to match your lender's criteria or personal comfort level.

Question 2

How is PMI handled?

Accepted Answer

If your LTV is ≥ 80%, PMI is estimated monthly until your balance falls to 80% of the purchase price. The calculator shows when PMI drops off.

Question 3

Can I use this outside the U.S.?

Accepted Answer

Yes. Choose your currency and enter local tax/insurance estimates. The calculation logic works for any fixed-rate mortgage.

Question 4

Does this include closing costs?

Accepted Answer

The calculator focuses on ongoing monthly costs (PITI). Closing costs are typically 2-5% of the purchase price and paid upfront.

Question 5

Are results guaranteed for approval?

Accepted Answer

No—lenders consider additional factors like credit score, employment history, and reserves. Treat results as planning estimates.

Question 6

What's the difference between the three modes?

Accepted Answer

By Income finds your max affordable price given your income. By Price calculates the income needed for a specific home. Target Payment works backward from your desired monthly budget to find the max price.

House Affordability Calculator