Mortgage Affordability Calculator
Max home price you can afford based on income and debts.
Enter your values
Enter the gross monthly income in $.
Enter the other monthly debts in $.
Enter the target back-end dti in %.
Enter the mortgage rate in % APR.
Enter the loan term in years.
Enter the down payment in $.
Enter the monthly taxes + insurance in $.
Results update instantly as you type — no submit needed. Your values are remembered on this device, and the shareable link reopens the calculator with exactly these numbers.
- Max home price
- $376,989.05
- Max loan amount
- $336,989.05
- Max principal & interest payment
- $2,130.00
- Total max housing payment
- $2,480.00
Quick answer
Affordability is generally capped by keeping total debts (including the new mortgage) at or below about 36-43% of gross monthly income.
Max payment = income x DTI limit - other debts
At a glance
| What it does | Max home price you can afford based on income and debts. |
|---|---|
| Category | Real Estate |
| Inputs needed | Gross monthly income, Other monthly debts, Target back-end DTI, Mortgage rate, Loan term, Down payment, Monthly taxes + insurance |
| Main output | Max home price |
| Formula | Max payment = income x DTI limit - other debts |
| Cost | Free — no sign-up, no download |
How to use the Mortgage Affordability Calculator
- 1Enter your gross monthly income and other debts.
- 2Set your target DTI (36% is conservative, some lenders allow up to 45%).
- 3Enter your rate, term, down payment and estimated taxes/insurance to see max price.
Inputs explained
- Gross monthly income($)
- Enter the gross monthly income in $.
- Other monthly debts($)
- Enter the other monthly debts in $.
- Target back-end DTI(%)
- Enter the target back-end dti in %.
- Mortgage rate(% APR)
- Enter the mortgage rate in % APR.
- Loan term(years)
- Enter the loan term in years.
- Down payment($)
- Enter the down payment in $.
- Monthly taxes + insurance($)
- Enter the monthly taxes + insurance in $.
Worked example
Using the values the calculator loads with:
Inputs
- Gross monthly income8000 $
- Other monthly debts400 $
- Target back-end DTI36 %
- Mortgage rate6.5 % APR
- Loan term30 years
- Down payment40000 $
- Monthly taxes + insurance350 $
Results
- Max home price$376,989.05
- Max loan amount$336,989.05
- Max principal & interest payment$2,130.00
- Total max housing payment$2,480.00
Frequently asked questions
Is this the same as pre-approval?
No — it's an estimate. Lenders verify income, credit and assets before issuing a formal pre-approval.
Should I borrow the max I qualify for?
Not necessarily — leave room in your budget for maintenance, savings and lifestyle.
What do I need to enter into the Mortgage Affordability Calculator?
Just 7 values: gross monthly income, other monthly debts, target back-end dti, mortgage rate, loan term, down payment, monthly taxes + insurance. Every field starts with a realistic example, so you can change one number at a time and watch the result update instantly.
How does the Mortgage Affordability Calculator work out the answer?
Affordability is generally capped by keeping total debts (including the new mortgage) at or below about 36-43% of gross monthly income. It applies the formula Max payment = income x DTI limit - other debts and shows the working so you can check each step by hand.
Is the Mortgage Affordability Calculator free, and do I need an account?
It is completely free with no sign-up, no download and no usage limit. Everything is calculated in your browser, so the numbers you type never leave your device.
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.