Online Tool Store
Home Affordability Calculator
Estimate the maximum home price and monthly mortgage payment you can afford based on your income, debts, down payment, and target debt-to-income ratio. Runs entirely in your browser.
🔒 This tool runs entirely in your browser. Your files are never uploaded to a server.
Max home price
Max monthly payment
Loan amount
How the home affordability calculator works
- Enter your annual income, existing monthly debts, down payment, interest rate, and loan term.
- The tool applies your target debt-to-income ratio to find the maximum monthly payment you can take on.
- It works backward from that payment to a maximum loan amount, then adds your down payment for a maximum home price.
The method
max payment = (monthly income × DTI%) - existing debts | loan = payment × (1-(1+r)⁻ⁿ)/r
r is the monthly interest rate and n is the total number of monthly payments over the loan term. Solving the standard mortgage payment formula backward for loan amount gives the maximum you could borrow at that payment.
FAQ
What is a debt-to-income (DTI) ratio?
DTI is the share of your gross monthly income that goes toward debt payments, including your future mortgage. Most lenders cap total DTI around 36-43%, though limits vary by loan program.
Does this include property taxes and insurance?
No. This estimate covers principal and interest only. Real affordability also depends on property taxes, homeowners insurance, and HOA fees, which reduce how much mortgage payment you can actually afford.
Why does a higher down payment increase my max home price?
Your maximum monthly mortgage payment stays the same regardless of down payment, but a larger down payment means that fixed payment covers a bigger loan-plus-down-payment total.
Is this a mortgage pre-approval?
No. This is a planning estimate only. An actual pre-approval depends on your credit score, full financial documentation, and a specific lender's underwriting rules.
How we compare
| Feature | Online Tool Store | Zillow affordability calculator | Bank pre-qualification form |
|---|---|---|---|
| No sign-up or lead capture | ✓ | ✗ | ✗ |
| Custom debt-to-income ratio input | ✓ | ✗ | ✗ |
| Instant results, no application | ✓ | ✓ | ✗ |
For a quick, private estimate before you talk to a lender, Home Affordability Calculator gives you a number to plan around.