Mortgage Affordability Calculator

Income & Loan Details

Maximum Home Price

$305,794

Based on a max monthly payment of $1,680 (28% of income).

Related guides

How much house can I afford?The 50/30/20 budget rule

Methodology

How this calculator works

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Formula

  • Maximum payment = 28% of gross monthly income
  • Maximum loan = payment × (1 − (1 + i)^−n) ÷ i, with i = annual rate ÷ 12 and n = months
  • Maximum home price = maximum loan + down payment

Assumptions & limits

  • The full 28% goes to principal and interest. Property tax, insurance, HOA and PMI would lower the price you can afford.
  • Other debts (the 36% back-end ratio) are not checked here; the Financial Health Score covers them.
  • Fixed rate.

Sources

Educational estimates, not financial advice. Check important decisions with your lender or a licensed advisor.

All calculator methodologies →