How much home can you afford?
Affordability Calculator
See how much home you can afford in North Texas based on your income, debts, and down payment. Uses lender 43% DTI guidelines and city-specific Texas property tax rates.
Plano effective property tax: 2.18%
Car, student loans, credit cards, alimony
Pre-filled from city; override if needed
Maximum home price (43% DTI)
$475,287
Conservative target (28% rule): $502,990
Note:
Property tax pre-fills from the selected city; insurance defaults to 0.35% of price. Lender approval depends on credit, employment history, and reserves. For a precise pre-approval, contact Mali for trusted lender introductions.
Frequently asked
How is the maximum home price calculated?+
We use the standard 43% back-end DTI ratio that most conventional and FHA lenders cap qualifying ratios at. Your gross monthly income × 0.43 minus existing debts gives your total housing budget, including principal, interest, taxes, insurance, HOA, and PMI. We then back out the max purchase price that fits.
Why does the property tax change by city?+
Texas effective property tax rates vary by city, county, and school district. Plano runs around 2.18%, Frisco 2.10%, Garland 2.65%, Prosper 2.55%. Picking your city pre-fills the right rate so the affordability number reflects reality.
What's the conservative 28% rule?+
The classic guideline says housing should consume no more than 28% of gross monthly income — separate from total debts. The conservative price is what you can comfortably afford without stretching, leaving room for retirement savings, kids, and unexpected costs.
Will the lender actually approve me at this number?+
This is a planning estimate. Real approval depends on credit score, employment history, reserves, and the lender's overlays. Mali introduces clients to vetted North Texas lenders for fast pre-approvals — no obligation.
Ready to get pre-approved?
Mali introduces clients to vetted local lenders who offer competitive rates and quick pre-approvals — no obligation.