Affordability
What you can afford is not the same as what a lender will approve you for. Here are three honest tiers of monthly housing cost, based on your income before other debts are even in the picture.
max home price
$2,217/mo housing
max home price
$2,613/mo housing
max home price
$2,850/mo housing
Monthly payment breakdown
At the Stretch tier price of $378,477.
What this means
The Protected tier (28%) leaves the most room for the unexpected — repairs, a job change, a new baby. The Red Line tier (36%) is the point past which most lenders and most budgets start feeling the strain. Being approved for more than the Protected number does not make it the right number for you. Debts you listed reduce the room you have for the unexpected, even though this calculator does not subtract them from the housing ratio directly — a lender's back-end DTI will.