Mortgage Affordability Calculator

Determine how much house you can afford with comprehensive financial analysis

1

Income & Debt

2

Loan Details

3

Additional Costs

4

Results

Income & Debt Information

Annual Gross Income

$

$30K $500K

Monthly Debt Payments

$

$0 $5K

Credit Score

points

300 850

Down Payment Amount

$

$0 $200K

Loan Details

Home Price

$

$50K $2M

Loan Term 15 years 30 years

Interest Rate

%

0.5% 20%

VA Loan

FHA Loan

Additional Costs

Annual Property Tax

$

Annual Home Insurance

$

PMI (if applicable)

$/month

HOA Fees

$/month

Your Mortgage Affordability

78%

Affordability

Comfortably Affordable

Your financial profile suggests this home is within your comfortable budget range.

$1,850

Monthly Payment

$350,000

Loan Amount

28%

Debt-to-Income Ratio

$475,000

Max Affordable Home

Monthly Payment Breakdown

Principal & Interest $1,520

Property Tax $333

Home Insurance $100

PMI $100

HOA Fees $0

Total Monthly Payment $2,053

Affordability Guidelines

28% Rule

Your housing costs should not exceed 28% of your gross monthly income

36% Rule

Your total debt payments should not exceed 36% of your gross monthly income

Personalized Recommendations

• Consider a 15-year mortgage to save on interest if your budget allows
• Your credit score qualifies you for competitive interest rates
• Your down payment is above average - great job saving!
• Consider additional principal payments to build equity faster