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Mortgage Affordability Calculator

Find out how much home you can afford based on your income and debts.

United States · USD. This page uses a shared calculation model and may include US-specific assumptions. Selecting a country changes formatting, not local tax, eligibility or contribution rules. Amounts are not converted between currencies.

Input Parameters

$8,000
$1,000$100,000
$500
$0$10,000
$60,000
$0$2,000,000
7%
0.1%20%
30
1040

Results

Maximum Home Price
$396,689
Max Loan Amount
$336,689
Max Monthly Payment
$2,240
Down Payment
$60,000

Payment vs Income Limits

Payment vs Income LimitsMax Payment: value $2,240. Income: value $8,000. Use the chart value controls or data table below to read all values.$0$2,000$4,000$6,000$8,000Max PaymentExisting DebtsIncomeMax Payment — value: $2,240Existing Debts — value: $500Income — value: $8,000
  • Max Payment$2,240 (21%)
  • Existing Debts$500 (5%)
  • Income$8,000 (74%)

Choose a chart point to read its values.

View chart data table

Down Payment vs Loan

Down Payment vs LoanThe values and percentages for each segment are listed below.Down Payment: $60,000Loan Amount: $336,689
  • Down Payment$60,000 (15%)
  • Loan Amount$336,689 (85%)

Disclaimer: This calculator provides estimates for informational purposes only. Results are based on the inputs provided and standard financial formulas. Consult a qualified financial advisor before making financial decisions.

About This Calculator

The Mortgage Affordability Calculator find out how much home you can afford based on your income and debts. It's built for anyone working with loans & debt who wants fast, accurate numbers without building a spreadsheet.

Sources & Model Limits

United States · USD. This page uses a shared calculation model and may include US-specific assumptions. Selecting a country changes formatting, not local tax, eligibility or contribution rules. Amounts are not converted between currencies. Read our methods and correction policy.

    How It Works

    Enter your gross monthly income, monthly debt payments, down payment, interest rate (%), loan term (years), and the calculator instantly computes your maximum home price, max loan amount, max monthly payment, down payment. For example, with Gross Monthly Income: $8,000, Monthly Debt Payments: $500, Down Payment: $60,000, Interest Rate (%): 7%, Loan Term (Years): 30, the maximum home price comes out to $396,689.

    Key Benefits

    • 1See your maximum home price update instantly as you adjust any input
    • 2Compare different scenarios side by side before making a decision
    • 3Visualize the breakdown with a chart instead of raw numbers alone
    • 4Export your results as a PDF report or CSV file for your records

    Practical Tips

    • →Shop multiple lenders — even a small rate difference saves real money over the loan term
    • →Always compare the APR, not just the headline interest rate
    • →Extra payments toward principal shorten your payoff time and cut total interest
    • →Avoid extending loan terms just to lower the monthly payment — it usually costs more overall

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    Frequently Asked Questions

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