Home Affordability Calculator

Estimate how much home you can afford based on your income and existing monthly debts.

Calculate

Enter your values below.

Result

Max monthly mortgage payment
0
Max loan amount
0

Formula used

Your maximum total debt is capped at the chosen DTI ratio of gross income; subtracting existing debt leaves your affordable mortgage payment, which is then converted into a maximum loan amount.

Example: $7,000 income, $500 existing debt, 36% max DTI → affordable payment ≈ $2,020/month.

How to use this calculator

  1. Enter Gross monthly income, Existing monthly debt payments, Maximum debt-to-income ratio (%), Annual mortgage rate (%), Loan term (years).
  2. Press Calculate to see your result instantly.

FAQ

Frequently asked questions

What is DTI (debt-to-income ratio)?

The percentage of your gross monthly income that goes toward debt payments — lenders use it to gauge affordability.

What DTI ratio do lenders typically allow?

Often up to around 36-43%, though this varies by lender and loan program.

Does this include property tax and insurance in the loan estimate?

No, only principal and interest are converted into a loan amount.

How is this different from Mortgage Affordability?

This starts from your income and existing debts; Mortgage Affordability starts directly from a target monthly payment you specify.