Home purchase budget worksheet

Monthly housing cap is the smaller of gross income × chosen housing percentage and gross income × chosen total-debt percentage minus other debts. Subtract entered ownership costs to obtain the principal-and-interest allowance, then solve for a fixed-rate loan and add the down payment.

The example caps of 28% and 36% are editable planning assumptions, not approval criteria. Include property taxes, insurance, mortgage insurance, association charges and maintenance in your entered costs. Recheck costs when the proposed price changes.

Reference: CFPB debt-to-income definition

The result above uses these exact values. This snapshot is included when the page is printed so the output can be checked against the original measurements.

Gross monthly household income

10000

Other monthly debt payments

500

Chosen housing-to-income cap

28 %

Chosen total debt-to-income cap

36 %

Monthly tax insurance HOA and other ownership costs

500

Assumed annual loan interest rate

6 %

Loan term

360 months

Cash down payment

50000

Primary result: Scenario purchase price: 433620.71.

• Check the selected mode, units and input values before using the result.
• Read the assumptions and rounding rules; compare the worked example with your intended calculation.
• A numerical result does not supply missing context or change the stated limitations.

This worksheet does not establish what you can safely afford or qualify to borrow. It excludes closing costs, cash reserves, income taxes, changing rates and lender-specific underwriting. Down payment is separate from closing cash. Compare the result with your actual after-tax household budget and current financing terms.