Mortgage Affordability Calculator
Build a housing budget that includes debt payments and the costs of owning the home.
Verify this calculatorVerified
See what the result uses—and what it cannot know.
Sumvoro calculates deterministically from the visible inputs. It does not invent lender terms, local rules, market values, medical facts, or professional judgments.
- 1 · InputsCheck every entered value against the latest statement, quote, measurement, or official source.
- 2 · Formula
Housing budget = the smaller of income × housing limit and income × total debt limit − other debt payments. Subtract taxes, insurance, and HOA dues, then convert the remaining payment into loan principal. - 3 · SensitivityUse Insights to run a lower and higher case. If the conclusion changes easily, collect better information or leave more margin.
- 4 · ScopeThis tool is maintained and covered by automated calculation tests. Provider timing, rounding, and omitted facts can still change a real-world result.
- Formula release
- 2026.10-r4
- Release date
- October 10, 2026
- Review status
- Verified
- Source review
- September 12, 2026
Mortgage Affordability calculator
Affordability depends on the smaller of your chosen housing limit and total-debt limit. The result should leave room for closing costs, maintenance, emergencies, and normal spending.
- Use gross income for ratio estimates.
- Enter local ownership costs.
- Keep closing cash and reserves outside the down payment.
Optional readingLearn how this calculator works
How the mortgage affordability calculator works
Estimate a home price ceiling from income, debts, down payment, interest rate, taxes, insurance, and adjustable budget limits.
Housing budget = the smaller of income × housing limit and income × total debt limit − other debt payments. Subtract taxes, insurance, and HOA dues, then convert the remaining payment into loan principal.
Read our calculation methodology and limitations.
Use affordability as a boundary, not a target
A lender’s possible approval and a household’s comfortable payment are different questions.
Use stable gross income
Separate dependable recurring income from bonuses or irregular earnings, then test whether the payment still works in a conservative scenario.
Respect both debt limits
Housing ratio and total debt ratio can produce different ceilings. The tighter constraint is the useful one for planning.
Preserve closing liquidity
Down payment, closing costs, moving expenses, repairs, and reserves all draw from cash. Avoid using the same savings twice.
Example
At $8,000 gross monthly income, a chosen 28% housing limit starts at $2,240 before applying the total-debt constraint.
How do income, other debts, taxes, and insurance change a home-price estimate?
- Gross monthly income
- $8,000
- Other monthly debts
- $750
- Chosen housing / total-debt limits
- 28% / 36%
- Down payment
- $80,000
- Annual interest rate / term
- 6.25% / 30 years
- Annual property tax / insurance
- $4,800 / $1,800
- Modeled monthly housing limit
- $2,130.00
- Tax and insurance per month
- $550.00
- Principal-and-interest budget
- $1,580.00
- Modeled home-price ceiling
- $336,611.31
This example is limited by the total debt limit. The chosen ratios are adjustable assumptions, not lender eligibility rules. HOA and mortgage insurance are zero in this example; closing cash, maintenance, and protected reserves need separate review.
What affects the result
- The 28% and 36% defaults are adjustable assumptions, not universal lending rules.
- Property taxes, home insurance, HOA dues, and mortgage insurance reduce the mortgage-payment budget.
- Cash for closing, moving, maintenance, and reserves is separate from the down payment.
Helpful guides
Frequently asked questions
Does this calculate PMI automatically?
No. Enter a monthly mortgage-insurance estimate when your loan requires it. The amount depends on the lender, loan, and borrower.
Should I use gross or take-home income?
This model uses gross monthly income for ratio calculations. Check the resulting payment against your actual take-home budget before deciding what is comfortable.