Mortgage Affordability Calculator


Gross annual income (before tax)
Maximum housing expense %
(M1) Max monthly payment based on income

Monthly Debts

Car Payment
Credit card minimum
Student loans
Child support & other obligations
Other mortgages
Other loans
Current monthly debts
Maximum Debt-to-Income ratio (DTI)
(M2) Max monthly payment based on DTI

Maximum monthly payment (lower of M1 & M2)

Monthly Expenses

Property tax
Homeowners insurance
PMI (private Mortgage Insurance)
HOA fees
Other expenses (utilities, repairs, etc)
(M3) Max monthly PI payment based on expenses

Available funds

Available funds
Fixed closing costs
Variable closing costs (based on price)
Minimum down payment
Max home price based on funds
(M4) Max monthly PI payment based on funds

Maximum PI payment (lower of M3 & M4)
Term of mortgage
Annual interest rate
Loan amount based on max PI payment
Down payment based on available funds
Total estimated closing costs

Maximum home price
Only relevant for investment properties that generate income.
% of home price depreciable
Years to depreciate
Annual depreciation
Estimated home price
Loan amount
Down payment
Estimated closing costs
Estimated monthly payment
Principal & Interest
Property Tax
Homeowner's insurance
HOA Fees
Other expenses
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