Mortgage Affordability Calculator
How to Estimate What You Can Afford
This calculator estimates a home price based on your financial details and common lender guidelines.
Your Finances:- Annual Gross Income: Your total income before taxes.
- Monthly Debts: All your recurring monthly debt payments (car loans, student loans, credit card payments, etc.). Do not include rent.
- Down Payment: The total amount of cash you can put towards the purchase.
- Interest Rate: The estimated annual interest rate for your mortgage.
- Property Taxes & Insurance: Enter these as a percentage of the home's value. 1.2% for taxes and 0.5% for insurance are common estimates.
- Debt-to-Income (DTI) Ratio: The percentage of your gross monthly income that goes towards paying your monthly debt payments, including your estimated mortgage. Lenders typically prefer a DTI of 43% or lower.
IMPORTANT DISCLAIMER
This is an estimate for informational purposes. Your actual affordable amount depends on your lender, credit score, and other factors. This is not a guarantee of loan approval and is not financial advice.
Estimate a realistic home-buying budget.
You Can Afford a Home Priced At
Estimated Monthly Payment
Principal & Interest
Taxes & Insurance
Maximum Loan Amount
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