Mortgage Affordability Calculator
Max home price you can afford based on income and debts.
Enter your values
ⓘ Live results
Results
- Max home price
- $376,989.05
- Max loan amount
- $336,989.05
- Max principal & interest payment
- $2,130.00
- Total max housing payment
- $2,480.00
Quick answer
Affordability is generally capped by keeping total debts (including the new mortgage) at or below about 36-43% of gross monthly income.
Max payment = income x DTI limit - other debts
How to use the Mortgage Affordability Calculator
- 1Enter your gross monthly income and other debts.
- 2Set your target DTI (36% is conservative, some lenders allow up to 45%).
- 3Enter your rate, term, down payment and estimated taxes/insurance to see max price.
Worked example
Using the values the calculator loads with:
Inputs
- Gross monthly income8000 $
- Other monthly debts400 $
- Target back-end DTI36 %
- Mortgage rate6.5 % APR
- Loan term30 years
- Down payment40000 $
- Monthly taxes + insurance350 $
Results
- Max home price$376,989.05
- Max loan amount$336,989.05
- Max principal & interest payment$2,130.00
- Total max housing payment$2,480.00
Frequently asked questions
Is this the same as pre-approval?
No — it's an estimate. Lenders verify income, credit and assets before issuing a formal pre-approval.
Should I borrow the max I qualify for?
Not necessarily — leave room in your budget for maintenance, savings and lifestyle.
About this calculator
- Built and reviewed by James Whitfield · How we build and test calculators
- Report an error
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.