Free Tool
Monthly Affordability Calculator
Enter your income, monthly debts, and down payment to see exactly what price range you can comfortably afford — a must-have first step for any DMV homebuyer.
Comfortable price range
$487,732
Up to $655,470 if you stretch to the 43% debt-to-income limit many lenders allow.
- Comfortable monthly housing payment
- $3,360
- Stretch monthly housing payment
- $4,560
- Down payment
- $60,000
Comfortable uses the common 28% housing and 36% total-debt guideline; stretch uses 43% total debt. Housing payment includes principal, interest, property tax, insurance, and HOA. Your lender's approval, mortgage insurance, and closing costs will change the final number.
Estimate your closing costsHow to Use This Affordability Calculator
This calculator helps buyers in Washington DC, Maryland, and Virginia estimate a comfortable monthly payment and price range before shopping for homes. Start with your gross monthly income, add your expected down payment, and include recurring debt payments to see a practical affordability range.
For the most accurate results, use realistic assumptions for HOA dues, property taxes, homeowners insurance, and current mortgage rates. If you are comparing multiple loan options, run the numbers more than once so you can see how small changes in interest rate and down payment affect your purchasing power.
Frequently Asked Questions
Does this include taxes and insurance?
Yes — you can input taxes and insurance to get a more realistic monthly payment estimate.
Is this a mortgage pre-approval?
No. This is a planning tool. Final approval depends on lender underwriting and documentation.
Should I use gross or net income?
Use gross monthly income first, then stress-test your budget to ensure the payment still feels comfortable.