House Affordability Calculator
Find out how much house you can realistically afford based on your monthly income, existing debts, down payment, and current mortgage interest rates.
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Frequently Asked Questions
How much of my income should go to housing?
A common guideline is that total housing costs (EMI + taxes + insurance) shouldn't exceed 28-40% of your gross monthly income, depending on other debt obligations.
What is the debt-to-income ratio?
Debt-to-income ratio compares your total monthly debt payments to your gross monthly income. Lenders typically prefer this ratio to stay below 40-43% for mortgage approval.
Does a larger down payment help me afford more house?
Yes, a larger down payment reduces the loan amount needed, which can increase the total house price you can afford while keeping your EMI within budget.