What's inside
- Results: maximum home price and what limits it, down payment, loan, closing costs, cash needed at closing, and the monthly cost at that price (principal + interest, tax, insurance, HOA, PMI) with front-end and back-end ratios
- The maximum price at 5 mortgage rates, 1 point lower to 1 point higher, with a chart
- Compare homes: up to 5 asking prices (each with its own HOA or tax rate), each with its monthly cost, ratios, cash needed and a verdict: Fits / Over 28% rule / Over 36% rule / Not enough cash
- Your ratios: 28% and 36% by default; change them to what your lender uses
- Sample: $110,000 income, $650 a month of debts, $60,000 to put down: up to $355,819 at 6.5%
Checked, not just designed: all 1,018 formulas recalculate with zero errors. The maximum price was checked in 7 scenarios per file against a closed-form solution and against the definition (it fits; $1 more doesn't), and every other figure was recomputed independently.
Works in Excel and Google Sheets. Rules of thumb, not a loan approval.
Try the free version first
The free online calculator uses the same model for a quick answer. The spreadsheet adds tracking, history and the full views.