Recommend these Calculators

Mortgage Calculator

With the mortgage calculator, you can estimate how much "house" you can realistically afford. Based on your provided gross annual income, other monthly debt payments, details of the mortgage loan, and annual property taxes and insurance premiums, determine an affordable home price and the monthly payments you'll be making.

Opt for a Shorter Term if Possible

Shorter mortgage terms mean larger payments but less interest paid.

Remember the Costs of One-Time Fees

Account for the plethora of fees during the homebuying process.

Refinance When Rates Drop

When interest rates fall, consider refinancing to save money.

The calculator utilizes guidelines followed by major lenders. The projected affordable home price and monthly payments represents a conservative estimate based on a 28% housing payment-to-income ratio and a 36% debt-to-income ratio.

For a more detailed analysis of your homebuying situation, it is always wise to consult a professional financial adviser.

What Does it Mean?

Mortgage loan

A loan secured by real property, which reserve the right to claim in the event that the borrower defaults on paying the mortgage. A period of non-payments results in foreclosure, when a lender may evict property occupants, and sell the property to settle the mortgage debt.


Refinancing allows a borrower to restructure a debt obligation under different terms. When a homeowner refinances, a new mortgage loan - often with reduced monthly payments and/or a lower interest rate - replaces the old.

Payment-to-income ratio

The percentage of a borrower's gross income that goes toward making housing payments.

Debt-to-income ratio

The percentage of a borrower's gross income that goes toward making housing payments plus payments for other debt obligations.


How much "house"
can you afford?

  • 1.

    Mortgage term

  • 2.

    Down payment amount

  • 3.

    Other monthly debt payments

  • 4.

    Gross annual income

  • 5.

    Interest rate

  • 6.

    Property taxes (annual)

  • 7.

    Homeowner insurance (annual)



Affordable home price:


Monthly payments: $0