MONEY & FINANCE · FREE INTERACTIVE CALCULATOR
Mortgage Affordability Calculator
Estimate an illustrative home-price ceiling from monthly payment capacity. Change the inputs below to calculate a result immediately. No account required.
Illustrative maximum loan
$333,583.23Illustrative home price
$416,979.04Down payment needed
$83,395.81How to calculate the answer
Maximum loan = payment × [1 − (1+r)^−n] ÷ r, with monthly r.
Worked example
At 6% for 30 years, $2,000/month supports roughly $333,583 of loan principal.
For the example inputs shown above, the calculated results are:
| Illustrative maximum loan | $333,583.23 |
|---|---|
| Illustrative home price | $416,979.04 |
| Down payment needed | $83,395.81 |
How to interpret this result
Not a lender approval. Taxes, insurance, debt obligations and closing fees are excluded.
The initial figures are illustrative examples, not live quotations or historical data. You can change the inputs to model your own situation. Always verify information used for important financial, educational or property decisions.
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Independent reference
For background on mortgage borrowing, see the Consumer Financial Protection Bureau. A mortgage affordability estimate is not a lending decision. Taxes, insurance, other debt and lender underwriting matter. The figures on this page are estimates from your inputs, not live lender quotes.
Frequently asked questions
How is affordability estimated?
It converts the payment you can afford into a loan size using the rate and term, then adds your down payment.
What is left out?
Property tax, insurance, HOA fees, maintenance and mortgage insurance, all of which raise the real monthly cost.
Is this what a lender will approve?
No. Lenders apply their own credit and income rules.
Sources and further reading
Last updated: . Results are estimates for information only and are not financial, medical or professional advice.