Monthly: $8,333
Car loans, credit cards, student loans, etc.
Infinity% of max home price
Housing costs as % of gross income
Annual % of home value
Loan Amount
-$80,000
Down Payment
$80,000
Housing costs ÷ Gross income
All monthly debts ÷ Gross income
Excellent financial position
Your DTI ratios are well within recommended ranges. You have good financial flexibility.
Total Housing Payment
$100
1.2% of monthly income
After housing and other debt payments
$8,333
Gross monthly income
$600
Housing + other debts
$80,000
Over life of loan
A larger down payment reduces your loan amount and may help you avoid PMI, allowing you to afford a more expensive home.
Reducing your monthly debt payments of $500 will lower your back-end DTI and increase your purchasing power.
A better credit score can help you qualify for lower interest rates, reducing your monthly payment and increasing affordability.
A 30-year loan has lower monthly payments than a 15-year loan, though you'll pay more interest over time. Balance affordability with total cost.