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Mortgage Affordability Calculator

How much house can you afford? Estimate a home-price range using your income, monthly debts, down payment, mortgage rate and recurring housing costs.

Planning estimate, not loan approval. Mortgage qualification varies by lender, loan program, credit profile and underwriting. Use your own local tax, insurance and HOA estimates when possible.
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Car, student loans, credit card minimums and other recurring debt.
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Recurring Homeownership Costs
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Use a local estimate when available.
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$
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Applied only when the modeled down payment is below 20%. Edit to match a quote.
Advanced affordability assumptions
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If entered, the calculator will not exceed this all-in housing budget.
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For cash-planning only, not included in monthly affordability.
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Planning expense only. It reduces the home price shown when entered.
Estimated Maximum Home Price
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Based on the assumptions you entered, not a lender approval amount.
Estimated Loan Amount
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All-In Monthly Housing
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Housing Ratio
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Total DTI
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Estimated Cash Needed
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Down Payment
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Principal & Interest$0/mo
Property Taxes$0/mo
Homeowners Insurance$0/mo
HOA / Condo$0/mo
Estimated PMI$0/mo
Maintenance Reserve$0/mo
If Rate Were 0.50% Lower$0estimated max home price
Current Assumptions$0estimated max home price
If Rate Were 0.50% Higher$0estimated max home price

How Much House Can I Afford?

Income and debt both matter

Debt-to-income ratio (DTI) compares monthly debt payments with gross monthly income. CFPB notes that mortgage products and lenders can use different DTI limits, which is why the assumptions in this calculator are editable.

Use the all-in housing cost

Principal and interest are only part of homeownership. Property taxes, homeowners insurance, HOA or condo fees and mortgage insurance can materially change the monthly cost.

Affordability is not approval

This tool estimates a price from the numbers you enter. Credit, reserves, loan type, underwriting rules and other factors can change what a lender will approve. Fannie Mae similarly describes affordability-calculator results as estimates rather than financing approval.

Budget beyond the mortgage

Closing costs, maintenance and emergency savings can affect what feels affordable even when a loan fits a DTI guideline. Use the optional budget and maintenance fields to make the estimate more personal.

Sources: Consumer Financial Protection Bureau, Fannie Mae, and Freddie Mac.

Mortgage Affordability FAQ

What is included in the monthly housing estimate?

The estimate includes principal and interest, property taxes, homeowners insurance, HOA or condo fees, estimated PMI when applicable, and any optional maintenance reserve you enter.

What debts should I enter?

Enter recurring monthly debt obligations such as car loans, student loans, credit-card minimum payments and other debt payments that would be considered in your total monthly debt. Do not enter the new mortgage payment because the calculator adds the modeled housing cost separately.

Why can two affordability calculators give different answers?

They may use different DTI limits, interest rates, down payments, property-tax assumptions, insurance estimates, PMI assumptions or definitions of affordability. This calculator exposes those assumptions so you can replace defaults with figures that better match your situation.

Does a calculator tell me how much a lender will approve?

No. It is a planning estimate. Actual qualification depends on the lender, loan program, credit profile, documented income and assets, property details and underwriting.

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