Mortgage affordability calculator

Buying a home is likely the biggest financial decision you'll ever make, and knowing how much you can realistically afford before you start shopping can save you a lot of stress. This calculator estimates your maximum home price based on your income, existing debts, and loan details, using the same debt-to-income benchmarks lenders rely on.

Income

Annual gross income ($)

Other monthly income, optional ($)

Loan details

Interest rate (%)

Loan term (years)

Down payment ($)

Monthly obligations

Existing monthly debt payments ($)

Car loans, student loans, credit cards, and similar.

Estimated monthly property tax ($)

Estimated monthly home insurance ($)

Back-end DTI limitThe front-end limit is fixed at 28% of gross monthly income.

What you can afford

Estimated home price you can afford $0

Maximum loan amount$0

Monthly mortgage payment (P&I)$0

Total monthly housing cost (PITI)$0

Gross monthly income$0

Front-end DTI (housing only)0%

Back-end DTI (all debts)0%

Affordability tipsLenders typically look for a front-end DTI (housing costs only) under 28% and a back-end DTI (all debts) under 36 to 43%. A larger down payment lowers your loan amount and may help you avoid private mortgage insurance (PMI). This calculator provides an estimate. Actual loan approval depends on your credit score, lender requirements, and full financial picture.

How it works: your maximum monthly housing payment is the lower of 28% of gross monthly income and your back-end limit (36% or 43%) of gross monthly income minus existing debt payments. Property tax and insurance are subtracted to find the principal and interest payment, which sets the maximum loan. Home price = maximum loan + down payment. PMI, HOA dues and closing costs are not included. This calculator is for educational purposes and is not financial advice.