Finance calculator
Mortgage Affordability Calculator
Estimate how much house you can afford from income, debts, down payment, mortgage rate, term, property tax, insurance, PMI, HOA dues, and debt-to-income limits.
Home affordability
Estimate how much house fits income, debt, DTI, and housing costs
A mortgage affordability calculator starts with income and debts instead of a target home price. It estimates a monthly housing budget from front-end and back-end debt-to-income limits, then backs into a supported mortgage loan amount.
Enter annual income, existing monthly debts, down payment, mortgage rate, term, annual property tax, annual homeowner insurance, monthly PMI or mortgage insurance, and HOA dues. The calculator subtracts those housing costs before converting the remaining principal-and-interest budget into a loan amount.
This page targets how much mortgage calculator, mortgage calculator affordability, how much house can I afford, and home affordability calculator intent. It is richer than a generic loan affordability calculator because mortgage decisions need taxes, insurance, PMI, HOA, and DTI assumptions.
Treat the result as a screening range. Credit score, reserves, local taxes, insurance underwriting, lender fees, and lender-specific approval rules can move the real answer.
Before using the result
- Use gross annual income before taxes and deductions.
- Include recurring debts such as car loans, student loans, and credit-card minimums.
- Enter property tax and homeowner insurance annually, but PMI and HOA monthly.
- Compare the result with lender prequalification or approval rules.
Related tools
FormulaHousing budget = min(income x front-end DTI, income x back-end DTI - debts)
Formula
Mortgage affordability from DTI
This is not a lender approval estimate. Use it to screen scenarios before comparing lender quotes and official affordability checks.
Housing budget = min(income x front-end DTI, income x back-end DTI - debts)
After tax, insurance, PMI, and HOA costs, the remaining housing budget is converted into a supported mortgage principal.
SourcesThis calculator includes source notes, assumptions, and exclusions so the result is easier to verify before use.
Sources and assumptions
Source notes
This calculator includes source notes, assumptions, and exclusions so the result is easier to verify before use.
- Effective year
- Current rules
- Last verified
- 2026-06-18
This is not a lender approval estimate. Use it to screen scenarios before comparing lender quotes and official affordability checks.
Official and reference sources
Assumptions
- Annual income is converted to gross monthly income.
- Front-end DTI limits housing cost as a share of income.
- Back-end DTI limits total debt payments after existing monthly debts.
- Property tax and homeowner insurance are entered annually, while PMI and HOA dues are entered monthly.
- The remaining principal-and-interest budget is converted into an estimated loan amount.
Not included
- Credit score, underwriting overlays, cash reserves, local tax reassessments, insurance underwriting, closing costs, lender fees, and official approval rules.
FAQ8 common questions for this calculator.
FAQs
How does this mortgage affordability calculator use income?+
It converts annual income to gross monthly income, then applies front-end and back-end debt-to-income limits.
What is the difference between front-end and back-end DTI?+
Front-end DTI looks at housing cost only. Back-end DTI looks at housing cost plus other monthly debt payments.
Does it include taxes, insurance, PMI, and HOA dues?+
Yes. Those entered costs are subtracted from the monthly housing budget before estimating the supported loan amount.
Why is this different from a basic loan affordability calculator?+
Mortgage affordability needs housing-specific costs and DTI checks, not only a generic monthly payment budget.
How does the Mortgage Affordability Calculator calculate the result?+
For the Mortgage Affordability Calculator, it uses the Mortgage affordability from DTI: Housing budget = min(income x front-end DTI, income x back-end DTI - debts). After tax, insurance, PMI, and HOA costs, the remaining housing budget is converted into a supported mortgage principal.
What information do I need to use the Mortgage Affordability Calculator?+
For the Mortgage Affordability Calculator, enter income, debts, down payment, mortgage rate, term, property tax, insurance, PMI, HOA dues, and debt-to-income limits. Keep the units consistent with the calculator fields and compare your setup with the worked example on the page.
How accurate is the Mortgage Affordability Calculator?+
Mortgage Affordability Calculator is accurate for the rates, amounts, dates, and rules entered. It uses the Mortgage affordability from DTI shown on this page. Real products can differ because of fees, taxes, contract terms, or changing official thresholds.
What should I check before using the Mortgage Affordability Calculator result?+
For the Mortgage Affordability Calculator, check income, debts, down payment, mortgage rate, term, property tax, insurance, PMI, HOA dues, and debt-to-income limits, then compare the Mortgage affordability from DTI and worked example with the contract or source you will rely on. Fees, tax year, currency, and payment timing can change the final decision.
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How to use the Mortgage Affordability Calculator
Estimate how much house you can afford from income, debts, down payment, mortgage rate, term, property tax, insurance, PMI, HOA dues, and debt-to-income limits. The page also explains the mortgage affordability from DTI and shows a practical example: After tax, insurance, PMI, and HOA costs, the remaining housing budget is converted into a supported mortgage principal.
- 1
Enter your details
Enter income, debts, down payment, mortgage rate, term, property tax, insurance, PMI, HOA dues, and debt-to-income limits, then complete any other fields shown in the calculator.
- 2
Check the calculation
Review the result alongside the mortgage affordability from DTI: Housing budget = min(income x front-end DTI, income x back-end DTI - debts).
- 3
Compare scenarios
Change one or more inputs to see how they affect the mortgage Affordability Calculator result before you use the estimate.