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Mortgage Affordability Calculator
Estimate how much house you can afford under two editable debt-to-income limits, including taxes, insurance, HOA and PMI.
Mortgage Affordability Calculator: Turn income, other debt payments and a cash down payment into a maximum home price. The first monthly payment is split into principal, interest, property tax and home insurance, with HOA and PMI shown separately. Runs 100% locally in your browser with zero server file uploads.
- Category
- Home & family tools
- Runs
- In your browser
- Cost
- Free · no sign-up
- Availability
- Ready to use
Runs entirely in your browser
The editable 28% / 36% defaults are a commonly cited conventional planning guideline, not lender rules. Housing includes principal, interest, property tax, insurance, HOA and the PMI amount you enter. PMI is not removed automatically at 20% down.
- Maximum home price ($)
- 352,807.06
- Loan amount ($)
- 292,807.06
- Monthly housing total ($)
- 2,333.33
- Monthly PITI ($)
- 2,233.33
| Principal | $ 291.49 |
|---|---|
| Interest | $ 1,464.04 |
| Property tax | $ 352.81 |
| Home insurance | $ 125.00 |
| HOA | $ 0.00 |
| PMI | $ 100.00 |
Income and housing limits
CFPB: debt-to-income ratio: https://www.consumerfinance.gov/ask-cfpb/what-is-a-debt-to-income-ratio-en-1791/ defines DTI as monthly debt payments divided by gross monthly income. Lenders and loan products can use different limits.
The 28% housing and 36% total-debt defaults follow planning examples in CFPB Your Money, Your Goals training: https://files.consumerfinance.gov/f/201504_cfpb_ymyg_training-legal-aid.pdf. They are editable assumptions, not an approval standard.
Price and payment calculation
OpenStax: loan amortisation: https://openstax.org/books/principles-finance-2e/pages/8-3-loan-amortization explains how regular payments reduce a loan. With monthly rate r and n payments, payment = principal × r / (1 − (1 + r)^−n); at zero interest, divide principal by n.
The monthly housing budget is the smaller of income × front-end limit and income × back-end limit minus other debt payments. Property tax is a percentage of price. Insurance, HOA and PMI are fixed monthly amounts. The down payment is fixed cash; closing costs are not deducted from it.
How to use it
- Enter annual gross income, monthly debts and cash down payment.
- Set the mortgage term, rate and housing costs.
- Adjust the front-end and back-end limits and compare the maximum price.
Privacy & limitations
All calculations run in your browser. No financial inputs are uploaded.
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Frequently asked questions
Are 28% and 36% lender rules?
No. These are commonly cited conventional planning guidelines. The front-end limit covers housing and the back-end limit covers housing plus other debt payments. Your lender may assess affordability differently.
Does the estimate include PMI?
Yes, at the monthly amount you enter. It is not removed automatically when the down payment reaches 20%; enter zero if it does not apply.
Is the maximum price a recommended budget?
It is the price allowed by your inputs. It does not budget for maintenance, utilities, childcare, retirement saving or other living costs.
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