Mortgage Affordability Calculator
Estimate a home price range from gross monthly income, monthly debts, a payment ratio and loan assumptions.
Set your values
Adjust the values, then calculate your result.
How to use Mortgage Affordability Calculator
- Enter the measurements or amounts in the fields above.
- Check that dimensions, rates and units match the labels.
- Select “Estimate home budget” to see a clear estimate and the formula used.
How the mortgage affordability calculator works
The lower of the entered housing-payment limit and total-debt limit determines an estimated principal-and-interest budget; the standard loan formula estimates principal.
Check your measurements and assumptions
This simplified estimate uses gross income and excludes property taxes, insurance, HOA, PMI, closing costs and lender underwriting rules. The selected ratios are planning assumptions, not approval criteria.
Review the estimate before you act
Compare this result with an independent measurement, supplier quote or institution guidance when the decision matters. Confirm that the units and assumptions match the labels above, and update the inputs when the conditions change. Keep a note of the values used so you can reproduce the estimate later. This calculator is a planning aid and does not replace professional, product-specific or local guidance.
How much house can I afford based on monthly income?
Choose conservative payment ratios, subtract current debt obligations from the total-debt limit, and use the lower resulting payment to estimate a loan amount.
Is input uploaded?
Processing takes place in your browser. This tool does not send your input or selected files to a conversion API.