Zillow How Much House Can I Afford

zillow how much house can i afford

When it comes to buying a house, one of the most important questions prospective buyers ask is, “How much house can I afford?” Zillow, a leading online real estate marketplace, offers several tools and resources to help answer this question. In this article, we will explore how to use Zillow to determine your budget and find the right home within your financial means.

Zillow’s Affordability Calculator

One of the key tools Zillow offers is the Affordability Calculator. This tool takes into account your income, monthly debts, down payment, and credit score to give you an estimate of the home price you can afford.

How to Use the Affordability Calculator:

  1. Enter Your Financial Information: Input your annual income before taxes, monthly debts (such as credit card payments, student loans, etc.), down payment amount, and credit score range.
  2. Adjust Home Loan Details: The calculator automatically provides mortgage details such as interest rate and loan term. You can adjust these to align with current market rates or your preferences.
  3. Review the Results: The calculator will display an estimated home price range, monthly mortgage payment, and the maximum loan amount you might qualify for.
  4. Customize Your Search: Use the results to filter your home search on Zillow’s marketplace by price range, location, and other preferences.

Additional Considerations

While the Affordability Calculator is a great starting point, there are additional factors to consider when determining how much house you can afford:

1. Mortgage Type and Programs

Different mortgage types and programs have varying requirements and limits. For instance, FHA loans might allow for a lower down payment than conventional loans. Research or consult a mortgage professional to explore your options.

2. Closing Costs

Don’t forget to account for closing costs, which typically range from 2% to 5% of the loan amount. These include fees for appraisals, inspections, and other expenses associated with finalizing the mortgage.

3. Emergency Savings

It’s wise to maintain an emergency savings fund. Buying a house that strains your budget could leave you vulnerable to unexpected expenses.

4. Lifestyle and Future Plans

Consider your lifestyle and future plans. If you anticipate significant changes in your income or expenses, such as starting a family or changing careers, factor these into your budget.

5. Property Taxes and Homeowner’s Insurance

These recurring expenses can significantly impact your monthly budget. Use Zillow to check the property tax history of homes you’re interested in and get quotes for homeowner’s insurance.


Zillow offers valuable tools, such as the Affordability Calculator, to help you estimate how much house you can afford. However, it’s essential to take a holistic view of your finances, considering not just the mortgage but also other expenses and factors that impact your financial health. By doing so, you can make an informed decision and find a home that you love and can comfortably afford.