Home & Auto Affordability Calculator
Estimate a practical home or vehicle price range before you shop. Compare your income and existing monthly debts with the financing terms and ownership costs you enter.
Use Affordability Calculator →How our calculator estimates workWhat the affordability calculator does
The calculator has separate Home and Auto modes. It converts annual income to monthly income, considers existing monthly debt, and works backward from a payment limit to estimate a maximum loan and purchase price.
Information you can enter
- Gross annual income and existing monthly debts
- APR, loan term and down payment
- Home insurance and HOA costs, or auto trade-in, tax, fees and insurance
How to use it
- Choose Home or Auto and enter your income and current monthly debt obligations.
- Add the financing assumptions and purchase-specific costs that apply to your scenario.
- Review the estimated maximum price, monthly cost and the detailed calculation summary.
What can change the result
The tool uses rule-of-thumb payment caps, so higher existing monthly debt reduces the amount available for a new housing or vehicle payment.
A higher APR generally supports less borrowing at the same monthly payment. A longer term can lower the payment while increasing the time spent in debt.
A larger down payment or trade-in can increase the purchase price supported by the same estimated loan amount.
Frequently asked questions
Is this the same as getting preapproved?
No. It is a planning estimate based on the numbers you enter and built-in affordability ratios. A lender can use different underwriting standards and additional information.
Does the home estimate include property taxes?
No. The current home mode includes homeowners insurance and HOA, but property taxes are not part of its monthly affordability calculation.
Can I use it for both a house and a car?
Yes. The page includes separate Home and Auto modes with different inputs and affordability assumptions.