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Condo Affordability Calculator

Find out how much condo you can afford based on income, debts, and total housing payment.

Lenders look at debt-to-income ratios, but you should also budget for HOA, insurance, and maintenance reserves.

This tool helps you set a price range that leaves room for rising fees and unexpected assessments.

Last updated: May 2026

Your numbers

What this means

At your inputs, a $0 condo with $0.00 HOA may fit a 36% debt-to-income budget.

Assumptions and limitations

  • Uses gross income and user-set DTI cap.
  • Does not include reserves, assessments, or utilities.

Frequently asked questions

Should I use gross or net income?
Lenders use gross income; you may want to plan on net for a conservative personal budget.
Do HOA fees count in DTI?
Yes. Lenders include HOA in the housing payment for qualification.

When this matters

  • A lender pre-approval tells you the maximum loan, not your comfortable all-in payment
  • You need to know how much room HOA and insurance leave after debt-to-income limits
  • You are setting a search price range before touring buildings

What this calculator does not include

  • Live tax bills, insurance quotes, or HOA budgets from any database
  • Lender approval, HOA questionnaire results, or project eligibility
  • Future HOA increases unless you change the inputs yourself
  • Home price appreciation or depreciation
  • Income tax deductions for mortgage interest or property tax
  • Selling costs, agent commissions, or capital gains tax
  • Exact DTI limits from your lender

See our methodology page for how each input is defined and how to interpret results.

Common questions

Does the lender count HOA in my payment?
Most lenders include HOA in qualifying ratios. This tool helps you see the full picture with taxes and insurance too, not just what fits on paper.

Sources to verify before buying

Use this checklist during due diligence. Calculators help you plan; these documents tell you what a specific building actually costs.

  • HOA budget and most recent financial statements
  • Reserve study and percent-funded summary
  • Master insurance policy declarations and renewal terms
  • Board meeting minutes from the past 12–24 months
  • Pending or approved special assessment notices
  • County or municipal property tax estimator for the unit
  • HO-6 insurance quote matched to master policy coverage
  • Lender condo questionnaire or project approval status

Assumptions and limitations

  • Outputs are planning estimates only, not quotes from lenders, insurers, or tax authorities.
  • Actual HOA dues, insurance premiums, and tax assessments vary by building, location, and ownership status.
  • PMI, special assessments, and reserve risk are modeled with simplified assumptions unless you enter your own figures.
  • Always confirm numbers with association documents, your agent, and qualified professionals before making an offer.

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