Free Tool / Buyer Resource

Texas Home Affordability Calculator

Find out what you can comfortably afford — not just what a lender will approve. Enter your numbers below and get an honest breakdown of your monthly payment, DTI ratios, and total cash needed to close.

Your Numbers

Adjust any field — results update instantly.

Your Income
Property
Taxes & Insurance
Loan Details
Your Affordability Range
Max home price based on your income and debts
Discipline Target 25% DTI
$265,000
Conventional Limit 28/36%
$298,000
FHA Limit 31/43%
$325,000
Custom Limit 28/36%
$298,000
Formula: Max Affordable Price
Hmax = ((Income × DTI%) − (Insurance ÷ 12) − HOA − Debts) ÷ (((1 − Down%) × PaymentFactor) + (TaxRate ÷ 12) + ((1 − Down%) × (PMIRate ÷ 12)))
Your Estimated Monthly Payment
$2,845
PITI + PMI + HOA
Formula: Total Monthly Payment
Total = P&I + Tax + Insurance + PMI + HOA
Front-End DTI
35.9%
Above conventional and FHA limits
Back-End DTI
42.3%
Exceeds conventional · Within FHA
Formula: Debt-to-Income Ratios
Front-End = (Total Payment ÷ Gross Income) × 100
Back-End = ((Total Payment + Other Debts) ÷ Gross Income) × 100

Payment Breakdown

Where every dollar of your payment goes each month
P&I
Tax
Ins
PMI
HOA
Principal & Interest
$1,866
Property Tax
$503
Homeowners Insurance
$350
PMI
$126
HOA Dues
$0
Total Monthly
$2,845
Formula: P&I (Standard Amortization)
M = P × (r(1 + r)ⁿ / ((1 + r)ⁿ − 1))
Tax, Insurance & PMI

Cash Needed to Close

Total liquid funds you'll need before buying
Down Payment$33,500
Closing Costs$10,050
Inspections & Appraisal (est.)$750
Lender Required Reserves (2 mo.)$5,689
Total Cash Needed$49,989
Our Recommendation
6-month emergency reserve $17,066
Not included in total above — but recommended before buying.
Formula: Cash to Close

Total Cost Over Loan Life

What this home really costs you over the full loan term
Total Interest Paid
$370,413
Total Amount Paid
$671,913
Interest-to-Principal Ratio
1.23x
Eff. Monthly Cost
$1,866
Formula: Lifetime Cost
Want the Full Picture?

This calculator covers the math. For the mindset — how to buy below your ceiling, why your lender's max isn't your target, and the fiscal discipline framework we recommend to every client — read the full guide: How Much House Can I Actually Afford?

Ready to Talk Numbers?

We'll walk you through your personal affordability picture — honestly, not optimistically.

Start the Conversation
Calculator Disclaimer

This calculator provides estimates for informational purposes only and is not a commitment to lend, a pre-qualification, or a pre-approval. Actual mortgage payments, interest rates, property taxes, insurance premiums, and closing costs will vary based on your specific financial situation, credit profile, property location, and lender.

PMI estimates use a 0.5% annual rate as a mid-range default. Actual PMI rates range from 0.3% to 1.5% depending on your credit score and loan-to-value ratio. Property tax estimates use the rate you enter applied to the full home price and do not account for homestead exemptions, tax freezes, or appraisal caps that may reduce your actual tax bill.

The 6-month emergency reserve shown in "Cash Needed to Close" is a Texas Ally recommendation for financial safety, not a lender requirement. Most lenders require 2 months of reserves.

Consult with a licensed mortgage lender for accurate loan quotes tailored to your specific circumstances. Texas Ally Real Estate Group, LLC is a licensed Texas real estate brokerage (TREC #9001961) and is not a mortgage lender or financial advisor.