Mortgage Affordability Calculator
Estimate how much house you can afford from a monthly payment budget, down payment, rate, and loan term.
How to use this mortgage affordability calculator
Affordability is the inverse mortgage problem: start from a payment you can live with, then see a ballpark home price. It is not a pre-approval. Taxes, insurance, HOA, PMI, and other debts can shrink the price a lender will allow.
Formula
Worked example
This estimate excludes taxes, insurance, HOA, and lender qualification rules.
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Frequently asked questions
Is this mortgage affordability calculator free?
Yes. It works instantly in your browser with no signup.
Are the results exact?
Results follow the stated formula, but real-world fees, timing, and rounding can vary.
How much house can I afford?
This inverts the mortgage formula: from a monthly principal-and-interest budget, rate, term, and down payment, it estimates a home price.
Does this use the 28% rule?
You choose the monthly budget. A common guideline is housing near 28% of gross income, but taxes, insurance, and other debts matter.
Why is this lower than Zillow’s number?
This estimate is P&I plus your down payment only. It does not add DTI, PMI, or closing costs. Lenders may approve more or less.
Should I include taxes and insurance?
This tool’s payment input is treated as principal and interest. If your budget is a full PITI number, use a lower P&I here or add tax/insurance on the mortgage calculator.
Results are estimates for informational purposes and are not financial, legal, or professional advice. Last reviewed 2026-08-20.