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Home Affordability Calculator for Veterans & Military

Calculate your maximum home price using the 28/36 DTI rule. See mortgage payments, PMI, and total cost at different down payment levels. Tailored with tips and guidance for Calculators with veteran-specific benefits like VA loans, tax exemptions, and military pay..

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VeteransTips for Veterans & Military

  • 1VA loans offer 0% down payment with no PMI — one of the best mortgage benefits available
  • 2Don't forget to factor in BAH (Basic Allowance for Housing) when calculating affordability
  • 3Military tax-free allowances (BAS, BAH) can significantly reduce your effective tax rate
  • 4The Thrift Savings Plan (TSP) is one of the lowest-cost retirement vehicles available
  • 5Check for state-specific veteran property tax exemptions — many states offer 50-100% exemption
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About Home Affordability Calculator for Veterans & Military

This home affordability calculator is specifically designed for Calculators with veteran-specific benefits like VA loans, tax exemptions, and military pay.. Whether you're just getting started or looking to optimize your financial strategy, this calculator provides the insights you need to make informed decisions.

Why Veterans & Military Need This Calculator

Veterans & Military face unique financial considerations that generic calculators don't address. Use the tips above alongside this home affordability calculator to get a complete picture of your financial situation. The calculator is completely free, runs instantly in your browser, and never stores your personal data.

← View Home Affordability Calculator (general version)

Home Affordability Calculator for Other Groups

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Maximum Home Price
$285,681
Based on 28/36 rule with 21.0% down
Stretch
Monthly Payment
$1,862.14
Loan Amount
$225,681
Front-End DTI
26.3%
Back-End DTI
31.9%
Monthly Payment Breakdown
Principal & Interest
$1,426.45
Property Tax
$285.68
Insurance
$150.00
Total Cost Over 30 Years
Down Payment
$60,000
Total Interest
$287,843
Total Property Tax
$102,845
Grand Total
$730,369
Estimated Closing Costs
Low Estimate (2%)
$5,714
Typical (3.5%)
$9,999
High Estimate (5%)
$14,284
Closing costs typically include appraisal, title insurance, attorney fees, origination charges, and prepaid items. Budget $5,714 to $14,284 in addition to your down payment.
Down Payment Comparison
Down %Down PaymentMax HomeMonthlyPMI
5%$12,387$247,730$1,983.32$98.06
10%$25,954$259,545$1,983.32$97.33
15%$40,881$272,542$1,983.32$96.53
20%$60,541$302,703$1,983.33None
PMI is estimated at 0.5% of the loan amount annually and applies when down payment is less than 20%.
Affordability by Income Bracket
Annual IncomeMax Home (20% down)Max Housing / Mo
$50,000$156,855$1,100.00
$75,000$264,177$1,750.00
$100,000$360,492$2,333.33
$125,000$456,806$2,916.67
$150,000$553,121$3,500.00
$200,000$745,750$4,666.67
Assumes 20% down payment, 6.5% rate, 30-year term, 1.2% property tax, and $150.00/mo insurance. Uses the 28/36 rule with your current debt level.
The 28/36 Rule
Front-End Ratio (28% max)
26.3%
Housing costs should not exceed 28% of gross monthly income.
Back-End Ratio (36% max)
31.9%
Total debt payments (housing + other) should not exceed 36% of gross monthly income.