Mortgage Affordability Calculator
Find the maximum mortgage loan amount you can afford for a target monthly payment.
Calculate
Enter your values below.
Result
Maximum loan amount
0
Formula used
Inverts the mortgage payment formula to find the largest loan principal supportable by your target monthly principal-and-interest payment.
Example: $1,800/month at 6.5% over 30 years → maximum loan ≈ $284,352.
How to use this calculator
- Enter Target monthly payment (P&I), Annual interest rate (%), Loan term (years).
- Press Calculate to see your result instantly.
FAQ
Frequently asked questions
Does this include taxes and insurance?
No — this covers only principal and interest. Add your own buffer for property tax and insurance.
How is this different from the Home Affordability Calculator?
This starts from your target monthly payment; Home Affordability starts from your income and debt-to-income ratio instead.
Does a longer loan term increase how much I can borrow?
Yes, spreading payments over more months supports a larger loan for the same monthly payment.
What if the interest rate is 0%?
The maximum loan is simply the payment × total number of months.