Mortgage Calculator
The Mortgage Affordability Calculator helps you estimate the price of a home you can comfortably afford based on your income, debt, and down payment. By factoring in your financial situation, including monthly debt payments and current interest rates, this tool provides an approximation of your maximum mortgage amount and potential home price. It’s an ideal tool for planning your next home purchase with confidence.
Remember, our projections rely on the information you provide. It’s okay to start with estimates and update as you gather more accurate data. Revisit regularly to see changes as your financial situation improves. For any questions or support, schedule a free one-on-one consultation.
Gross Income
When calculating a mortgage, we need to use your gross yearly gross income.
Debt Payments
Enter the minimum monthly payments for all your debts, including credit cards, cars, and other debts. Don’t include a mortgage payment if you are paying for a house.
Interest Rate
Enter the current mortgage interest rate.
Down Payment
Enter the amount of money you can afford to use as a down payment.
Assumptions
- 45% bank DTI ratio, and
- 30 year loan term.
- We are not including taxes, insurance or HOA in this calculation.
Mortgage Affordability Calculator
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Schedule a free one on one consultation with us 🙂