Home Affordability Calculator
See how much house you can afford in Las Vegas from your income, debts and down payment. Every default is an estimate you can change.
Your result
Enter your annual income and an interest rate to see how much you can afford.
You can afford a house up to
- Comfortable
- Stretching
- Aggressive
Tick marks show the price where your housing plus other debts reach 40%, 45% and 50% of your income.
a month
Estimate only, not a loan offer or pre-approval. 1st Realty is not a lender.
Affordability by income
Enter an interest rate above to see this table.
| Annual income | Monthly income | Down payment | Home price |
|---|---|---|---|
| $60,000 | $5,000 | — | — |
| $80,000 | $6,667 | — | — |
| $100,000 | $8,333 | — | — |
| $125,000 | $10,417 | — | — |
| $150,000 | $12,500 | — | — |
| $200,000 | $16,667 | — | — |
Uses your rate, term, down payment, DTI, monthly debts and costs from above.
How the calculator works
- Annual income
- Your gross income before taxes. Lenders measure your budget against it, so it is the biggest driver of the result.
- Monthly debts
- Minimum payments on car loans, student loans, credit cards and similar debts. Rent and everyday bills are not counted. Higher debts leave less room for a mortgage payment.
- Down payment
- Enter it as a percent of the price or as a dollar amount with the $ / % switch. More down means a smaller loan, and 20% or more removes PMI.
- Debt-to-income (DTI)
- The share of your gross monthly income that can go to debt, housing payment included. 36% is the default; 33% is more comfortable and 43% is a stretch.
- Interest rate
- Enter the rate you expect to get. We do not assume one, because small changes in the rate move the price you can afford a lot.
- Loan term
- The number of years you take to repay. A shorter term raises the monthly payment per dollar borrowed, so the same budget buys less house.
- Property tax
- Estimated at 0.70% of the price per year, which you can change. Clark County taxes assessed value, which is usually below the sale price, so the effective rate on price is lower than the posted rate. Your actual bill depends on the home and its tax district.
- Home insurance
- Estimated at $1,500 a year. Real quotes vary with the home, its age, coverage and insurer, so get a quote for a specific home.
- PMI
- Private mortgage insurance, estimated at 0.70% of the loan per year and applied only when the down payment is under 20%. Switch it off if you do not expect to pay it, for example on a VA loan.
- HOA dues
- Monthly dues for a community or condo association, which come out of the budget before any of it reaches the price. HOA dues are shown on each listing.
Frequently asked questions
How much house can I afford on my income?
Lenders compare your total monthly debt, including the new housing payment, to your gross monthly income. This calculator takes the debt-to-income limit you choose (36% by default), subtracts your other monthly debts, and finds the home price whose full monthly payment fits what is left. Your own lender sets the real limit.
What debt-to-income ratio should I use?
Many lenders like to see 36% or less, which is why it is the default. Up to 43% is common for conventional loans, and some programs allow more. Use 33% for a more comfortable budget. The meter on the result shows where a price falls: comfortable up to 36%, stretching up to 43%, aggressive above that.
How does my down payment change what I can afford?
A larger down payment means a smaller loan and a smaller monthly payment, so the same budget reaches a higher price. With less than 20% down, conventional loans usually also require private mortgage insurance (PMI), which adds to the monthly payment.
What interest rate should I enter?
Use a rate from your lender or a current rate quote for the loan you have in mind. Your rate depends on your credit, down payment, loan type and term, so this calculator does not fill one in for you. Try a few rates to see how much a small change moves the price.
Is this a pre-approval or a loan offer?
No. It is an estimate for planning, not a loan offer, pre-approval or commitment to lend, and 1st Realty is not a lender. Your actual rate, payment and the price you qualify for depend on your credit, the loan type, the lender and the property. Talk to a lender for a real pre-approval.
