Mortgage Planning

Home Affordability Calculator

Income

Annual Gross Income $85,000

Co-Borrower Income $0

Monthly Debt Payments $400

Down Payment $20,000

Loan & Rate

Interest Rate 6.75%

Loan Term 30 years

10 yr15 yr20 yr30 yr

DTI Limit 36%

Est. Monthly Housing Costs

Property Tax Rate 1.10%

Home Insurance (annual) $1,500

HOA Fees (monthly) $0

PMI Rate (annual %) 0.50%

Home Affordability — Income Qualifier

Maximum Affordable Home Price

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Adjust DTI to explore 36%

20%28%36%43%50%

Conservative

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Housing DTI—

Total DTI—

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Down Payment—

Moderate Your Limit

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Housing DTI—

Total DTI—

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Stretch

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Housing DTI—

Total DTI—

Monthly Payment—

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Total Household Income

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Monthly Gross Income

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Max Monthly PITI

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Est. Loan Amount

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Principal & Interest

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PMI (if applicable)

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Your Debt-to-Income Ratio

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0% 36% 43% 55% 100%

Ideal ≤ 36% Acceptable 36–43% Caution 43–55%

Monthly Payment Breakdown

Principal & Interest Property Tax Insurance PMI HOA

Disclosures

This calculator is for illustrative and educational purposes only and does not constitute a loan commitment or approval. Home price estimates are based on your entered DTI limit and gross income. Property tax is calculated as a percentage of the estimated home price and scales with the result. PMI is estimated using the annual PMI rate applied to the loan amount and is typically required when your down payment is less than 20% of the purchase price. Monthly payment includes principal, interest, property tax, homeowner's insurance, PMI (if applicable), and HOA fees. Conservative scenario uses 80% of your max price; stretch uses 115%. Actual qualification depends on credit score, employment history, asset verification, property appraisal, and other lender factors. Consult a licensed mortgage professional before making any home purchase decision.