Mortgage Affordability

What Our Calculator Offers

Find Your Perfect Price Range

Know exactly how much house you can afford based on your income and expenses.

See How Interest Rates Impact You

Understand how different interest rates affect your monthly payments and overall budget.

Compare Different Down Payments

Explore how your down payment amount changes your mortgage terms and affordability.

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Save Time House Hunting

Focus your search on homes within your budget for a more efficient buying experience.

Calculate Your Home Buying Power

Annual Household Income ($)

Monthly Debt Payments ($)

Down Payment ($)

Interest Rate (%)

0% 7.5% 15%

Loan Term (years)

Your Results

Maximum Home Price: $320,000

Estimated Monthly Payment: $1,800

Loan Amount: $300,000

Debt-to-Income Ratio: 32%

“This calculator helped us understand exactly what we could afford and saved us so much time during our home search. We found our dream home within our budget!”

– Sarah & Mike, First-time Homebuyers

START PLANNING YOUR DREAM HOME

Top Mortgage Tips

1. Check Your Credit Score First

A higher credit score can qualify you for better interest rates. Check your score before applying and take steps to improve it if needed.

2. Save for a 20% Down Payment

While not always required, a 20% down payment helps you avoid private mortgage insurance (PMI) and lowers your monthly payments.

3. Get Pre-Approved

A pre-approval letter shows sellers you’re serious and gives you a clear picture of what you can afford.

4. Consider All Costs

Don’t forget to budget for closing costs, moving expenses, furniture, and ongoing maintenance when planning your purchase.

5. Compare Multiple Lenders

Shop around for the best rates and terms. Even a small difference in interest rate can save thousands over the life of your loan.

Important Disclaimer

This calculator is provided for general informational and educational purposes only and is not a substitute for professional advice. While we believe the information provided is accurate and reliable, we do not guarantee its completeness or suitability for your specific circumstances.

The calculations are estimates based on the information you provide and commonly used formulas. Actual loan amounts, payments, and affordability may vary based on additional factors including but not limited to your credit history, additional debts, property taxes in your area, insurance costs, and lender-specific requirements.

We recommend consulting with a qualified mortgage professional or financial advisor before making any financial decisions related to home purchases.

Affiliate Disclosure

As an Amazon Associate and affiliate for other companies, we earn from qualifying purchases. This page contains affiliate links to products from mortgage lenders, real estate services, and financial institutions. If you make a purchase or apply for a loan after clicking these links, we may earn a commission at no additional cost to you. Our recommendations are based on our honest evaluations, but our editorial content is not influenced by these relationships. Read our full disclosure policy.