Instant calculator
Mortgage Affordability Calculator
The mortgage affordability calculator turns monthly income, debt payments, and a target housing ratio into an estimated home budget.
How to use
Quick steps
- Enter annual household income, monthly debt payments, target housing ratio, interest rate, down payment.
- Review the instant answer block and supporting calculations.
- Compare the result with related tools in the same category before making a decision.
Formula
How this calculator works
Affordable housing payment = income x housing ratio - monthly debts
This is a simplified estimate. Lenders may use different DTI rules, reserves, and underwriting adjustments.
FAQ
Common questions
How does the mortgage affordability calculator work?
It uses Affordable housing payment = income x housing ratio - monthly debts. Enter annual household income, monthly debt payments, target housing ratio, interest rate, and down payment to generate an instant estimate.
When should I use this mortgage affordability calculator?
Estimate a home price budget from income, debts, and interest rate.
What should I keep in mind?
This is a simplified estimate. Lenders may use different DTI rules, reserves, and underwriting adjustments.