House affordability
Back-end DTI cap (% of gross for all debt)36
Down payment (%)20
Mortgage APR (%)7
Loan term (years)30
Property tax (% of home / yr)1.1
Home insurance (% of home / yr)0.35
PMI (% of loan / yr, if down < 20%)0.5
Front-end DTI (housing / gross)
41.8%
Classic cap 28% · conservative 25%
Back-end DTI (all debt / gross)
41.8%
Your cap: 36% · includes $0/mo existing debt
% of take-home
59.6%
Over 35% — stretched
Required down payment
$80,000
20% of price
Loan amount
$320,000
Recommended house price
Conservative (25% front-end DTI)$239,182
Classic rule (28% front-end DTI)$267,944
At $400,000: Over recommended limits.
Monthly breakdown
Principal & interest$2,129
Property tax$367
Insurance$117
Total monthly$2,612
59.6% of take-home — this is stretched
Housing rules of thumb