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Free Mortgage Affordability Calculator

How Much Mortgage Can You Afford?

Enter your income, debts, and down payment to see how much you could borrow — and compare lenders offering competitive rates in your state.

Your Details

Before tax — used for DTI calculation

$

Car loans, student loans, credit cards, etc.

$

Your planned down payment

$

Current avg 30yr fixed — adjust to your quote

%

Mortgage term

Enter your annual income above to see how much you could borrow.

All calculations are estimates — speak to a mortgage advisor for personalised advice.

Disclaimer: Results are illustrative only and do not constitute financial advice. Figures are based on standard affordability rules and may not reflect your lender's specific criteria. Always consult a qualified mortgage advisor or HUD-approved housing counselor before making financial decisions.

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Ready to Compare Lenders?

See which lenders offer the best rates in your state — comparing takes less than a minute and could save you thousands over the life of your loan.

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How the Calculator Works

Enter your details

Provide your annual income, monthly debts, down payment amount, and loan term.

See your budget

The calculator applies standard DTI ratios to estimate your maximum affordable loan amount.

Compare lenders

Use your budget to compare mortgage rates from lenders in your state and find the best deal.

How We Calculate Affordability

Our mortgage affordability calculator uses the debt-to-income (DTI) ratio — the same method most US lenders apply. We calculate both your front-end ratio (housing costs as a percentage of gross income) and your back-end ratio (all debts combined). Conventional lenders typically allow a back-end DTI of up to 43%, while some programmes extend this to 50%.

The calculator assumes a standard conventional loan profile: fixed-rate mortgage, US 30-year or 15-year term, with rates reflecting current national averages. Our rate data is updated quarterly using publicly available mortgage rate surveys and lender quotes across all 50 states.

Note that property taxes, homeowners insurance, PMI (if applicable), and HOA fees are not included in the affordability estimate shown — these vary significantly by state, county, and property type. Adding these costs typically increases total monthly housing expenses by 0.5–1.5% of the home value per year.

For the most accurate picture, use this calculator as a starting point, then get pre-approved by a lender. Browse our mortgage comparison pages to see current rates by state, or read our mortgage guides for tips on improving your approval odds.

How we make money — and why it does not affect our data

Our rate data is sourced from public filings and updated quarterly. We may earn a commission if you click through to a lender, but this never affects our data or rankings. See our editorial standards.

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Mortgage Calculator FAQ

How is mortgage affordability calculated?
Mortgage affordability is primarily calculated using your debt-to-income (DTI) ratio. Lenders compare your total monthly debt payments — including the proposed mortgage payment — against your gross monthly income. Most conventional lenders prefer a front-end ratio (housing costs only) of 28% or less and a back-end ratio (all debts) of 36–43%. Your credit score, down payment, and employment history also influence how much a lender will approve.
What is the debt-to-income ratio?
The debt-to-income (DTI) ratio is the percentage of your gross monthly income that goes toward paying debts. The back-end DTI includes all monthly obligations: mortgage (principal, interest, taxes, insurance), car loans, student loans, credit card minimums, and other debts. A back-end DTI of 36% or lower is considered strong; most conventional lenders allow up to 43–45%. FHA loans may allow up to 50% in some cases. The lower your DTI, the more mortgage you can qualify for.
How much down payment do I need?
Down payment requirements vary by loan type. Conventional loans typically require 3–20%. Putting down less than 20% usually means paying private mortgage insurance (PMI), which adds to your monthly costs. FHA loans require as little as 3.5% with a credit score of 580+. VA loans (veterans and service members) and USDA loans (rural areas) may require no down payment at all. A larger down payment reduces your loan amount, monthly payment, and total interest paid over the life of the loan.
Does the calculator account for property taxes and insurance?
The calculator provides an estimate of your principal and interest payment, which forms the core of your mortgage payment. Property taxes, homeowners insurance, and any HOA fees are not included because they vary significantly by location and property. When budgeting, factor in an additional 1–3% of the home value per year for taxes and insurance combined. Your lender will provide a Loan Estimate document with all costs itemised before you commit.
How accurate is this calculator?
This calculator gives a useful estimate based on standard mortgage formulas and current average US rates, but it is not a guarantee of what you'll be approved for. Lenders consider many additional factors including your credit score, employment history, asset reserves, and the specific property. For an accurate figure, get pre-approved by a lender — it's free and gives you a firm budget before you start house hunting. Use our mortgage comparison pages to find lenders offering competitive rates in your state.
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Free quote requests are only available in eligible states. The program is for those with at least $10,000 in unsecured (or tax) debt. Does not cover secured debts (mortgages, auto loans, student loans). Applicants must be 21+ with a source of income. No upfront fees — fees only charged on successfully settled debts. Debt services not available in CO, IA, IL, KS, MI, MN, NH, OR, PA, RI, TN, UT, VA, WA, WV. Tax services not available in IL, MN, PA.

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