calculations

Work out how much house someone can afford

Maximum affordable home price from income, existing debt payments and available down payment, using the 28/36 qualifying ratios. Reports which of the two ratios is the binding constraint, which is the actionable part: a buyer limited by the back-end ratio can raise their budget by clearing debt, one limited by the front-end ratio cannot.

post/api/v1/calculate-affordability

Request

  • Base URL: https://www.usmortgagecalc.com
  • URL: https://www.usmortgagecalc.com/api/v1/calculate-affordability
  • Auth: none declared

Request body

annualGrossIncomenumber required

Household income before tax, in US dollars per year.

monthlyDebtPaymentsnumber

Existing minimum monthly debt payments: car loans, student loans, credit card minimums. Excludes housing.

downPaymentAmountnumber required

Cash available for the down payment, in US dollars. A dollar amount, not a percentage.

annualInterestRatePercentnumber

Annual nominal interest rate as a percentage, for example 6.5 for 6.5%.

loanTermYearsinteger

Loan term in years. Most US mortgages are 15 or 30.

annualInsurancenumber

Annual homeowners insurance premium.

monthlyHoanumber

Monthly HOA dues.

frontEndRatioPercentnumber

Maximum housing cost as a share of gross income. 28 is the conservative standard.

backEndRatioPercentnumber

Maximum total debt as a share of gross income. 36 is conservative; lenders often allow 45 and sometimes 50.

statestring

Full US state name, for example "Texas". Used to look up the average property tax rate. Either this or propertyTaxRatePercent is required.

propertyTaxRatePercentnumber

Annual property tax as a percentage of home value. Omit and pass state instead to use that state's average.

Response

Calculation result.

dataobject

The calculation result.

Changes

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