Calculators

Affordability calculator

What a budget comfortably carries, and where the lender ceiling sits above it. Start from a scenario or enter your own numbers; nothing here is pre-filled on your behalf.

Sample data

Income before taxes and deductions. Lender ratios run on gross income by convention, which is why an affordable-on-paper payment can feel heavier in practice.

Sample data

The required minimum payments on loans and cards: car loans, student loans, credit card minimums, support obligations. Utilities, groceries, and subscriptions do not count.

Sample data

The part of the purchase price paid in cash up front. The loan covers the rest. Below 20% down, mortgage insurance usually applies.

Standard guideline

All monthly debt payments, including the proposed housing payment, divided by gross monthly income. Lenders commonly cap it near 36%, with program-specific exceptions.

Freddie Mac

Source: Freddie Mac weekly average, as of Aug 27, 2026. A national average, not your quote.

Optional. Taxes and insurance start from national averages.

Advanced

National avg
National avg

The annual premium for insuring the building against damage and liability. It does not cover tenant belongings or rent shortfalls unless specifically added.

Monthly dues charged by a homeowners or condo association for shared amenities and building upkeep. They are paid to the association, not the lender.

Lenders do not count utilities or other spending. Your budget does, so these lower the comfortable figure and never the lender ceiling.

Comfortable range

$1,560,000 to $1,690,000
Maximum home price
$1,717,646
Maximum monthly payment
$9,300
Lender ceiling: $1,717,646

A lender may approve up to $1,717,646: about $27,646 above the comfortable figure. Approval is priced on gross income and credit-report debts, not on your budget, so the two are not expected to match.

The $550,000 down payment is only part of the cash due at signing. Estimate cash to close

Explore a price$1,690,000 · Comfortable
ComfortableStretchingAt the ceiling
Principal and interest$7,326
Property taxes$1,690
Insurance$79
Mortgage insurance$0
HOA or condo fees$0
Total at this price$9,095/mo

Illustrative estimate only. Not advice and not a pre-qualification.

Keep or send this scenario

Save it for later, share it with others, or export it as a report to get estimates before you buy.

Preset scenarios

You choose the assumptions; nothing is guessed for you.

More calculators

The rest of this suite. Each answers one question.

Frequently asked questions

Affordability is the home price your money can comfortably carry, which is not always the biggest loan a bank is willing to give you. A lender decides by looking at what you earn before tax, then checking that your monthly housing cost, and your other debts on top of it, stay under set limits, known as debt-to-income ratios in the US and GDS and TDS ratios in Canada. This calculator runs that same check in reverse. You enter your income, your monthly debts, and your down payment, and it works backwards to the highest price that still fits inside those limits, then shows the monthly payment that would come with it.

Glossary

Plain-language definitions of every term this calculator uses.

Debt-to-income ratio (DTI)

All monthly debt payments, including the proposed housing payment, divided by gross monthly income. Lenders commonly cap it near 36%, with program-specific exceptions.

Front-end versus back-end ratio

Front-end is the housing payment alone as a share of gross income, commonly capped near 28%. Back-end adds every other monthly debt payment, commonly capped near 36%.

Gross income

Income before taxes and deductions. Lender ratios run on gross income by convention, which is why an affordable-on-paper payment can feel heavier in practice.

Monthly debt payments

The required minimum payments on loans and cards: car loans, student loans, credit card minimums, support obligations. Utilities, groceries, and subscriptions do not count.

Pre-qualification versus pre-approval

Pre-qualification is an estimate from stated numbers. Pre-approval is a lender’s written commitment after verifying income, assets, and credit. Sellers weigh pre-approval; pre-qualification is a starting point.