Utilities

Home affordability — max price/loan from income and DTI

Estimates the maximum home price and loan a buyer can afford from income, existing monthly debts, and a down payment, under the standard front-end (housing / income, default 28%) and back-end (total debt / income, default 36%) DTI limits. Solves for the price given that property tax, insurance, and PMI scale with the home value (a fixed-point iteration), and returns the binding limit plus the monthly PITI + HOA + PMI breakdown at the max. Deterministic; not lending advice.

post/v1/mortgage/affordability

Request

  • Base URL: https://api.numeratica.com
  • URL: https://api.numeratica.com/v1/mortgage/affordability
  • Auth: one of:
    • HTTP bearer
    • API key in header X-API-Key

Request body

annual_incomenumber required

Gross.

monthly_debtsnumber required

Existing minimum payments (back-end DTI).

down_paymentnumber required
interest_ratenumber required

Annual mortgage APR.

term_monthsinteger

Omit for 360.

front_end_dtinumber

Housing / income; omit for 0.28.

back_end_dtinumber

Total debt / income; omit for 0.36.

property_tax_ratenumber

Annual; omit for 0.011.

insurance_ratenumber

Annual; omit for 0.005.

pmi_ratenumber

Annual, on the loan when LTV > 80%; omit for 0.007.

hoa_monthlynumber

Response

The affordability estimate

result_idstring
engine_versionstring
disclaimerstring

Example response

{
  "result_id": "afford_1a2b3c4d5e6f7a8b",
  "engine_version": "affordability-1.0.0"
}

Changes

No recorded changes to this operation across all 1 revision of this API.