Asunnon Hankintakyvyn Laskuri – Kuinka Kallis Asunto Voin Ostaa?

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1. Anna Annual Gross Income (€)
2. Anna Down Payment (€)
3. Anna Monthly Debt Payments (€)
4. Anna Mortgage Interest Rate (%)
5. Anna Loan Term (years)
6. Napsauta Laske-painiketta
7. Lue tulos, joka näkyy laskurin alapuolella

The 28/36 Rule Explained

The 28/36 rule is the cornerstone of mortgage affordability. It states: spend no more than 28% of gross monthly income on housing costs (front-end ratio) and 36% of gross monthly income on total debt (back-end ratio).

Housing costs in the 28% rule include: mortgage principal + interest + property taxes + homeowner's insurance (PITI) + HOA fees + PMI if applicable.

Example: Income €100,000/year = €8,333/month. Max PITI = €8,333 × 0.28 = €2,333. Max total debt = €8,333 × 0.36 = €3,000.

With €500 in existing monthly debts, you have €3,000 − €500 = €2,500 available for housing — limited by the back-end rule to €2,500 (not the €2,333 front-end maximum in this case).

Down Payment Impact on Affordability

Your down payment dramatically affects what you can afford and what you pay:

PMI (Private Mortgage Insurance) typically costs 0.5–1.5% of the loan amount annually. On a €350,000 loan at 1%, that's €3,500/year or €292/month — a significant chunk of housing budget.

Mortgage Rate Impact on Affordability

Interest rates have a massive effect on home buying power. For a €400,000 home with 20% down (€320,000 loan):

A 1% rate increase on a €320,000 loan adds ~€200/month to your payment. This is why refinancing (or buying when rates are lower) saves hundreds of thousands over a 30-year loan.

Hidden Costs of Homeownership

First-time buyers often underestimate true homeownership costs beyond the mortgage payment:

• Property taxes: Typically 0.5–2.5% of home value annually (€2,000–€10,000+ on a €400K home)
• Homeowner's insurance: €800–€2,000/year depending on location and coverage
• Maintenance and repairs: Budget 1–2% of home value annually (€4,000–€8,000 on a €400K home)
• HOA fees: €100–€1,000+/month for condos and planned communities
• Utilities: Higher than renting — €200–€600/month for a house vs. apartment
• Closing costs: 2–5% of purchase price (€8,000–€20,000 on a €400K home)

The true monthly cost of homeownership is often 25–40% higher than the mortgage payment alone. Factor these into your budget before committing.

How Lenders Calculate Maximum Loan Amount

Lenders use both DTI ratios and loan-to-value (LTV) ratios to determine maximum mortgage amounts. The lower of these two limits applies:

1. Income-based limit: Maximum monthly payment × 12 months / annual rate factor
2. Property-based limit: Appraised value × maximum LTV (typically 80% without PMI, 95–97% with PMI or FHA)

Credit score also affects the maximum loan. With a 620 credit score, you may only access FHA financing with a higher rate. A 760+ score unlocks the best conventional rates and more flexible terms.

First-Time Homebuyer Programs

If you're a first-time buyer (or haven't owned a home in 3 years), you may qualify for assistance:

• FHA loans: 3.5% down with 580+ credit score; 10% down with 500–579
• USDA loans: 0% down for rural/suburban properties; income limits apply
• VA loans: 0% down for eligible veterans and service members; no PMI
• State/local programs: Down payment assistance grants of €5,000–€25,000+ in many states
• Good Neighbor Next Door: 50% off for teachers, law enforcement, firefighters, EMTs in HUD-designated areas

Rent vs. Buy: When Does Buying Make Sense?

Use the price-to-rent ratio (P/R) to decide: P/R = Home Price ÷ Annual Rent. Below 15: buying is clearly better. 15–20: depends on personal factors. Above 20: renting may be financially smarter.

Other factors favoring buying: plan to stay 5+ years, stable income, building equity/wealth, desire to customize, tax benefits (mortgage interest deduction for itemizers). Factors favoring renting: need flexibility, market at peak, high maintenance costs, better investment opportunities elsewhere.