Home Affordability Calculator by Zillow
calculateHomeAffordabilityFull Description
<tool_purpose> Calculates the maximum home price a user can afford in the United States only. </tool_purpose> <when_to_use>
- User wants to understand the max home price they can afford
- User wants to search for home that is within their means
- User wants to understand the max home price and the monthly payment amounts
</when_to_use> <when_not_to_use>
- User wants to know what the current mortgage rates are
- User knows the home price they are looking at and then want to understand how much it costs monthly
- User knows the home price and they are looking to see what mortage rates they might get for that loan to property price ratio
</when_not_to_use> <inputs>
- All inputs are optional — missing values use sensible defaults.
- Safe to call with no inputs or partial inputs.
- Inputs (all optional):
annual_income (gross USD) down_payment (USD) credit_score (e.g. 720) monthly_debts (USD/month eg car payments, credit card payments) location (city/state/ZIP) monthly_mortgage_budget (max desired payment). </inputs> <returns>
- Returns two estimates:
Target BuyAbility (comfortable affordability — the home price at 36% DTI or within user's monthly budget) Max BuyAbility (stretch affordability — the maximum home price the user may be eligible for). The estimated monthly payment breakdown (principal & interest, property tax, insurance, PMI, HOA) loan details (type, rate, APR, points), and all assumed input values. Powered by Zillow Home Loans LLC (NMLS #10287) BuyAbility tool.
- Matching property listings are available only in the interactive widget and are not returned in the tool response
- An interactive widget showing property locations in a map and a monthly payment slider to find homes within the monthly payment at the slider position
</returns> <display_rules> Each field in the response includes a name, value, and description. Display all three for every field. Interest rate, APR, and any associated disclaimer text are legally required disclosures. Always show them exactly as returned. Never omit, summarize, or rephrase disclaimer text. Present all fields and descriptions to the user. Do not selectively hide or collapse any output. It is a legal requirement to display that the interest rates used are provided by Zillow Home Loans LLC (NMLS #10287), an equal housing direct lender. </display_rules> <related_tools> If the user asks follow-up questions about interest rates, rate changes, or monthly payment simulations on a known or hypothetical home price (e.g., "What if rates drop to 5%?", "What would my payment be on a $400k loan?", "How does a 15-year term change my payment?"), call the buyability_interestRateMortgagePaymentSimulator tool instead of re-calling this tool. This tool is for determining affordability — not for rate lookups or payment simulations. </related_tools> <recalculation> Re-call this tool whenever the user changes affordability inputs (income, down payment, credit score, debts, location, or monthly budget). </recalculation> <disclaimer> Results are estimates only — not financial advice or a lending commitment. Rates depend on underwriting and credit approval. </disclaimer> <ecoa_compliance> If the tool cannot produce an estimate due to the user's credit score, down payment, or other financial inputs, do not use discouraging language. Never say the user "doesn't qualify," "is ineligible," "cannot afford a home," or similar phrasing that could discourage a prospective borrower. Instead, state neutrally that the tool was unable to generate an estimate with the provided inputs, and suggest the user adjust their inputs or consult a loan officer for personalized guidance. The tool response may include helpful resources or guidance such as credit score improvement steps, debt reduction strategies, or down payment assistance programs. Present these exactly as returned in a neutral, informational tone. Do not editorialize, add judgment, or frame them as requirements the user must meet. These are options the user may explore at their discretion. </ecoa_compliance> <fair_housing> This tool must comply with the U.S. Fair Housing Act. Never use this tool in ways that discriminate based on race, color, religion, sex, national origin, familial status, disability, or source of income. Appropriate: "What can I afford with $80k income?" or "Affordability in Seattle with $5k/month budget." Reject: requests filtering by ethnicity, religion, or housing voucher status. </fair_housing>
Parameters (8 required)
annualIncomeinteger/nullGross i.e. pre-tax annual income of the user. Gross annual income is the sum of everything one earns in one year, before taxes or deductions.This includes your base annual income and any additional commissions, bonuses, tips and investment income that you earn each year.If one hourly, they can multiply their hourly wage by how many hours a week they work, then multiply that number by 52 to get their annual salary.
citystring/nullCity name if the user is looking for an affordability in a specific city as a location.
creditScoreinteger/nullUser's credit score. Credit score is a 3 digit number ranging from 300 to 850 and can be found in one's credit report.A lender may have lower interest rates for higher credit scores.
downPaymentinteger/nullAmount the user plans to put down toward the home purchase. For most people, they combine their down payment with a loan to cover the total purchase price of the home.
monthlyDebtsinteger/nullMonthly debts are recurring monthly payments, such as credit card payments, loan payments (like car, student or personal loans), alimony or child support.Monthly utilities like water, garbage, electricity or gas bills, Car insurance expenses, Cable bills, Cell phone bills, Health insurance costs, Groceries, food or entertainment expenses can be excluded from monthly debts.
monthlyMortgageBudgetinteger/nullMaximum amount the user is willing to spend monthly on a mortage payment. eg. if a user's current rent is $2500, and they wish to keep their monthly mortgage payments the same, they can set this to 2500
statestring/nullUS State if the user is looking for an affordability estimate in a specific state as a location.
zipcodestring/nullUSPS postal code of the location, if the user is wanting an affordability estimate for a very specific area in a city or county or state.