Home Affordability Calculator

Calculate Your Budget

Annual Gross Income

$

Monthly Debts (Car, Credit Cards, Student Loans)

$

Down Payment 20%

Interest Rate 7.0%

Loan Term

Property Tax Rate (Annual) 2.0%

Estimated Annual Insurance

$

Monthly HOA (if applicable)

$

Maximum Home Price

$0

Loan Amount

$0

Down Payment

$0

Monthly Payment

0%

Debt-to-Income

Housing Expense Ratio

Conservative (28%) Moderate (33%) Aggressive (36%+)

✓ Your debt-to-income ratio is within recommended limits.

Principal & Interest $0

Property Tax $0

Insurance $0

HOA $0

Total PITI + HOA $0

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Property Taxes: Texas has no state income tax but higher property taxes (avg 1.8-2.2%)
DTI Ratio: Most lenders prefer total DTI under 43% for conventional loans
Jumbo Loans: For homes over $766,550 in Texas, you'll need a jumbo loan
Down Payment: 20% down avoids PMI, but Texas offers down payment assistance programs
Insurance: Consider flood insurance if in a flood zone (common in coastal areas)
HOA: Many Texas communities have HOA fees - factor these into your budget