Mortgage Affordability Calculator

DTI cap → max mortgage-style payment → loan principal from rate/term. Optional down payment % gives a rough purchase price = loan ÷ (1 − down%). Does not include taxes, insurance, or PMI in the payment.

Gross monthly income Monthly debt payments Target DTI limit (%) Estimated mortgage rate (%) Loan term (years) Down payment (% of purchase price, optional)

Result
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How this calculation works

What each input means

Gross monthly income and target DTI limit (%) — Housing budget cap ≈ income × (DTI ÷ 100) − other monthly debts.
Estimated mortgage rate (%) and loan term (years) — Convert payment capacity into a loan principal using the amortization identity.
Down payment (% of purchase price) — Optional; if provided, estimated price ≈ loan ÷ (1 − down% ÷ 100) (loan-only math; not a full cash-to-close).

Formula used

Payment-to-loan principal: loan ≈ max housing × ((1 + r)ⁿ − 1) ÷ (r(1 + r)ⁿ) with monthly r and n = years × 12; if r = 0, loan = max housing × n.

Ignores taxes, insurance in the payment, PMI, and underwriting overlays.

How this result is estimated

This mortgage affordability calculator applies the formulas described on this page to the values you enter. Outputs are not financial, tax, legal, or medical advice.

Inputs are user-provided and may include rounding.
Where accuracy, eligibility, or obligations matter, rely on official disclosures and licensed professionals.

Last reviewed: 2026-04-17

Frequently asked questions

Is this calculator result exact?

It is an estimate based on your inputs and may differ from official or provider-specific calculations.

Does this site provide financial, tax, or legal advice?

No. Each tool applies explicit formulas to values you supply. Financial, tax, and legal conclusions belong with licensed professionals and official documents.

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