Mortgage Affordability Calculator
Estimate the maximum mortgage loan you can afford based on income, debts, interest rate, and term.
CalcSimpler Examples
- $5,000 income, $500 debts, 5% rate, 30 years, 36% DTI ⇒ $242,166.10
- $7,000 income, $1,000 debts, 4% rate, 25 years, 30% DTI ⇒ $208,397.73
FAQ
What is the DTI ratio?
The debt-to-income ratio is the portion of income that can go toward debt payments.
Does this include taxes or insurance?
No, it only estimates principal and interest on the loan.
How does interest rate affect affordability?
Higher rates increase payments, reducing the loan size you can afford.
Why subtract existing debts?
Lenders consider other monthly debts when determining how much you can borrow.
Additional Information
- Many lenders follow the 28/36 rule for housing and total debts.
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