Your car payment is buying you a smaller house. A $600/month car loan at today's rates costs you roughly $120,000 in home buying power. That's not a metaphor. It's the math. Use the calculator to see your exact number, then see the full breakdown below.
You can afford a home around
$278,000
Based on your current income, debt, and housing cost assumptions.
Monthly Housing Budget
$2,100
This appears to be within a comfortable borrowing range.
Estimated Loan Amount
$248,000
Estimated Cash Needed (Down + Closing)
$38,000
Estimates based on your inputs. Actual results may vary. Terms →
Keep track of multiple affordability setups.
Every $200/month in car payment removes roughly $40,000 from your maximum home price. Below is what that looks like across common car payment amounts: based on $90,000 income, 10% down, 6.4% rate, 43% back-end DTI limit.
| Monthly car payment | Real-world car | Lost buying power |
|---|---|---|
| $0 | No car loan | - |
| $250/mo | Used Honda Accord | -$50,000 |
| $400/mo | New Toyota Camry | -$80,000 |
| $600/mo | New F-150 / Tesla Model 3 | -$120,000 |
| $800/mo | Luxury SUV / truck | -$160,000 |
| $1,000/mo | High-end truck / EV | -$200,000 |
Based on $90,000 gross income, 10% down payment, 6.4% 30-year fixed, 43% back-end DTI limit. Actual limits vary by lender and loan type.
Find your income row and car payment column. Green = comfortable qualifier. Amber = at the limit. Red = likely declined at that price.
Based on 6.4% rate, 10% down, 43% back-end DTI, no other debts besides car.
Unlike installment loans, which can be excluded if ≤10 payments remain, car leases are counted in DTI for the full remaining term, no matter what. Even if you have 2 lease payments left, the full monthly obligation counts. This surprises many buyers who assume a nearly-expired lease is irrelevant. If you're within 6 months of lease end, consider whether delaying your home purchase until after the lease expires changes your qualifying position.
Estimates based on your inputs. Actual results may vary. Terms →