Mortgage Affordability Calculator

Estimate how much house you may be able to afford based on your income, debts, and editable debt-to-income planning assumptions.

Your Financial Details

Annual Gross Household Income

Total pre-tax income for all borrowers

Monthly Debt Payments

Car loans, student loans, credit cards — exclude future mortgage

Mortgage Details

Annual Interest Rate

Enter your mortgage interest rate (note rate), not APR

Loan Term

Years

Months

Quick select:

Down Payment

Estimated Monthly Costs

Annual Property Taxes (estimated)

Enter annual amount — we'll divide by 12

Annual Homeowners Insurance (estimated)

Monthly HOA Fees

Estimated Annual PMI Rate (%)

Applied when LTV > 80%. PMI varies by lender, loan program, credit profile, and LTV.

DTI Planning Assumptions

These start as editable 28% housing and 36% total-debt planning defaults. Actual lender limits vary.

Front-End Ratio (%)

Housing costs ÷ gross income

Back-End Ratio (%)

Total debts ÷ gross income

Estimated Maximum Home Price$393,205Educational estimate only — not a lender pre-approval

Max Loan Amount$333,205

Down Payment$60,000

Estimated LTV84.7%

Max Monthly Housing$2,800.00

Est. Monthly P&I$2,161.16

Monthly Tax + Insurance + HOA$500.00

Estimated Monthly PMI$138.84LTV > 80% — see note below

Constrained ByHousing ratio (28.0%)

Monthly gross income: $10,000.00. The housing payment limit of 28.0% is the binding constraint.

PMI included in this estimate. The estimated loan amount results in an LTV of 84.7%, which exceeds the 80% threshold. An estimated monthly PMI of $138.84 has been subtracted from your available housing budget. Actual PMI pricing and requirements vary by lender, loan program, and credit profile.

This is an estimate only. Actual lender qualification depends on your credit score, employment history, assets, loan type, and the lender's specific underwriting guidelines. This calculator does not represent lender approval or guarantee any specific loan terms.

How Affordability Is Estimated

This calculator starts with editable 28% housing and 36% total-debt assumptions as conservative planning defaults. Actual lender underwriting limits vary by loan program, lender, borrower profile, and other factors. It uses those ratios to estimate a maximum monthly housing payment, then works backwards to find a corresponding home price.

Estimated housing costs may include principal and interest, property taxes, homeowners insurance, applicable estimated PMI, and HOA fees. The front-end ratio limits those housing costs as a percentage of gross monthly income. The back-end ratio limits all monthly debts as a percentage of gross income. Your estimated affordability is constrained by whichever limit is reached first.

You can change the 28% and 36% defaults to explore other planning scenarios. Many loan programs allow higher ratios depending on compensating factors such as credit profile or reserves. This result is an educational estimate, not a lender approval limit.

Important: This calculator is for educational purposes only. It does not represent lender approval, pre-qualification, or a guarantee of any specific loan amount. Actual mortgage qualification depends on your full financial profile and the lender's underwriting standards.

Frequently Asked Questions

: The front-end ratio (housing ratio) is your total monthly housing costs divided by gross monthly income. The back-end ratio (total DTI) is all monthly debt payments — including housing — divided by gross income. This calculator starts with editable 28% housing and 36% total-debt assumptions as conservative planning defaults. Actual lender underwriting limits vary by loan program, lender, borrower profile, and other factors.
: No. This is an educational estimator only. Actual lender qualification depends on your credit score, employment history, assets, loan type, and the lender's specific underwriting guidelines. This result does not represent pre-approval or guarantee any specific loan amount.
: Include all minimum monthly debt obligations: car loans, student loans, minimum credit card payments, personal loans, and any other installment debt. Do not include future mortgage payments (those are calculated separately).
: If existing debt payments already consume a large portion of your income, the back-end (total debt) ratio becomes binding before the front-end (housing) ratio. Reducing existing debts before applying for a mortgage can increase your estimated affordability.