Finance
Mortgage Affordability Calculator
Estimate an affordable home price. Change the inputs below and the estimate updates immediately.
Input
Your numbers
Calculated result
Estimated affordable home price
$389,078.50
Target monthly housing payment
$2,080.00
Estimate only. Verify important decisions with an appropriate professional or official source.
How to use it
A quick estimate, without the spreadsheet.
Inputs and units
Use monthly gross income and monthly debt payments, then enter available down payment and a loan rate and term.
Formula
Payment budget = max(0, monthly income × 0.36 − debt payments). The mortgage payment formula is inverted to estimate principal.
Worked example
$8,000 income and $800 debt leave a $2,080 monthly payment budget.
Assumptions and limitations
The 36% ratio is a simplified planning assumption, not a lender approval rule. Taxes, insurance, maintenance and credit eligibility are excluded.
Further guidance: CFPB homebuying resources.