Mortgage Affordability Calculator
Calculate how much house you can afford based on your income, down payment, interest rate, and loan term.
Mortgage Affordability Calculator
Calculate how much house you can afford based on your income, down payment, interest rate, and loan term.
Real-World Examples
Income: $80,000, down: $40,000, rate: 6.5%, 30 years
Max home price: ~$348,000
Income: $150,000, down: $100,000, rate: 5.5%, 30 years
Max home price: ~$648,000
Income: $100,000, down: $50,000, rate: 6%, 15 years
Max home price: ~$293,000
Common Mistakes to Avoid
Ignoring your debt-to-income (DTI) ratio
Fix: The 28% housing ratio assumes no major debts. Lenders also cap total monthly debt payments (including the mortgage) at 36-43% of income. High car or student loan payments reduce what you can borrow.
Forgetting property taxes and insurance
Fix: This calculator estimates principal and interest only. Real monthly costs include taxes, insurance, and possibly PMI or HOA, which reduce the home price you can truly afford.
Assuming the max loan equals the max home price
Fix: The max home price is the loan plus your down payment. A larger down payment increases your purchasing power without changing the loan amount.