Use this calculator to determine how much house you can afford. By entering details about your income, down payment, and monthly debts, you can estimate the mortgage amount that works with your budget.
Based on your income, a house at this price should fit comfortably within your budget.
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What will your new home cost? Estimate your monthly mortgage payment with our easy-to-use mortgage calculator.
Estimate how much will be paid each month for principal and interest over the life of the loan with our amortization calculator.
Your debt-to-income ratio helps determine if you would qualify for a mortgage. Use our DTI calculator to see if you're in the right range.
Interested in refinancing your existing mortgage? Use our refinance calculator to see if refinancing makes sense for you.
Enter your (and your co-borrower's) annual income before taxes. Or click "Calculate by payment" to enter what you want to spend every month.
Enter the monthly amount you pay for debts like car payments or student loans. Do not include rent or mortgage payments, or credit cards that you pay in full.
Most home loans require a down payment of at least 3%. A higher down payment can lower your monthly payment and increase your affordability.
Typically, your DTI should be 36% or lower to qualify for a mortgage. Certain loans allow for higher DTIs, such as FHA loans (43%) and VA or USDA loans (41%).
This is pre-filled with the current average mortgage rate. Your actual rate will vary based on factors like credit score and down payment.
The calculator automatically assumes a 30-year (360 month) term, which is the most common term. You can edit your loan term in the calculator's advanced options.
The amount you pay for property taxes can affect your affordability. The affordability calculator includes estimated amount, but you can edit it in the advanced options.
Home insurance or homeowners insurance is typically required by lenders. You can edit this number in the affordability calculator advanced options.
Any HOA dues you pay each month can affect your affordability. You can edit this number in the affordability calculator advanced options.