buncha/finance/mortgage-afford

Mortgage Affordability Calculator

DTI rule

Gross annual income

USD

Down payment

USD

Other monthly debtsauto, student, cards

USD

Interest rate

Property tax rate

% / yr

Home insuranceper year

USD

HOA / strataper month

USD

Loan term

Currency

You can afford a home up to

$388,539

Limited by the front-end ratio (28% of gross monthly income).

Max monthly housing

$2,800.00

PITI + HOA

Loan amount

$348,539

LTV 89.7%

Down payment %

10.3%

PMI likely required

Total interest

$486,243

over 30 yrs

Monthly payment breakdown

Principal & interest$2,318.84

Property tax$356.16

Home insurance$125.00

HOA / strata$0.00

Total monthly$2,800.00

About the 28 / 36 rule. The classic lender-of-last-resort rule says your monthly housing cost (PITI — principal, interest, taxes, insurance) should stay under 28% of gross monthly income, and ALL monthly debts combined should stay under 36%. Most lenders today will let you stretch to 33 / 43 or even 36 / 50, but qualifying for a larger loan and being able to live with it are different things. The conservative tile is what the people who don't end up house-poor pick.

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About Mortgage Affordability Calculator

How much house can you actually afford? Plug in income, debts, savings and your local interest rate; get the max home price using the 28 / 36 rule (or stretched alternatives), the monthly PITI breakdown, and whether you'll need PMI. Distinct from a generic loan calculator — this answers 'what price' from 'what budget'.

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