1
Enter income and monthly debts
Add gross annual income and recurring monthly debts so the calculator can apply front-end and back-end DTI limits.
Home budget calculator
Free Mortgage Affordability Calculator
A mortgage affordability calculator estimates how much house you can afford from income, debts, down payment, mortgage rate, taxes, insurance, HOA dues, and DTI limits.
Max home price
$434,500
Monthly payment
$2,848.77
Constraint
back-end DTI
Calculator inputs
Build a home-buying budget
Income and debt
Start with the monthly cash flow a lender will review.
Loan assumptions
Use realistic rates and ownership costs for the target market.
DTI limits
Adjust the ratios to match a lender or your own comfort level.
Results
Estimated buying range
Based on $10,000 gross monthly income and $750 in recurring monthly debt, the conservative estimate is:
$434,500
The binding constraint is back-end DTI.
Principal and interest
$2,114.27
Taxes, insurance, HOA
$734.50
Estimated PMI
$0.00
Total monthly payment
$2,848.77
Front-end DTI limit
$3,200.00
Back-end DTI limit
$2,850.00
Cash check
Closing and reserve estimate
Estimated closing costs$6,517.50
Reserve target$5,697.54
Cash shortfall beyond down payment$12,215.04
2
Add down payment and mortgage assumptions
Enter down payment cash, interest rate, term, property tax rate, insurance, HOA dues, and reserve target.
3
Review the affordability estimate
Compare maximum home price, estimated monthly payment, loan amount, DTI constraint, and closing cash needed.
Mortgage affordability FAQ
Common home budget questions
What is a mortgage affordability calculator?
A mortgage affordability calculator estimates the highest home price that may fit your income, debts, down payment, loan rate, taxes, insurance, and debt-to-income limits.
How do lenders decide how much house I can afford?
Lenders usually compare your proposed housing payment and total monthly debts with your gross monthly income. These limits are often called front-end and back-end debt-to-income ratios.
Does this calculator include property taxes and insurance?
Yes. This calculator includes estimated property taxes, homeowners insurance, HOA dues, and PMI when the down payment is below 20 percent.
Is the maximum affordable home price the same as my approval amount?
No. The estimate is a planning guide, not a loan approval. A lender may use different rates, credit rules, reserves, property taxes, insurance, and underwriting requirements.