Affordability Calculator  
  Free Affordability Calculator

 Affordability Calculator

Annual Gross Income

Annual Wage Income $  
Annual Interest Income $  
Other Income $  

Monthly Debt Payments

Monthly Car Loan $  
Monthly Credit Card $  
Monthly student Loan $  
Other Monthly Debt $  

Insurance and Taxes

Annual Home Insurance $  
Annual Property Taxes $  

Fixed Loan Terms

Annual Interest Rate     %
Loan Term    Year
Down Payment $  
Monthly PMI $  

Qualification Ratios

PITI Ratio   %
Debt Ratio   %
Monthly Principal & Interest $  
Monthly Insurance & Taxes $   
Total Monthly Payment $  
Down Payment to Value Ratio  
Loan to Value Ratio  
Maximum Loan Amount $  
Maximum Purchase Price $  



Note: If your down payment is less than 20% of the property value, you will be required to pay Private Mortgage Insurance (PMI) each monthly. Add PMI amount to the field of monthly PMI, and run calculation again.

Mortgage Affordability Calculator  
  Free Mortgage Affordability Calculator


This affordability calculator can help you estimate the maximum loan amount you can borrow and the maximum purchase price you can pay for your new home, given your annual household gross income, monthly debt payments, interest rate, the length of loan, and your down payment.


Qualification ratios are also called lender's qualification ratios. Principal, Interest, Property taxes and Insurance (PITI) ratio, also called the front ratio, is the ratio of PITI payment over household gross income. The debt ratio, also known as the back ratio, is the ratio of PITI payment plus all other debt payments (e.g. car loan, student loan and credit card) over household gross income. Many lenders use 28% of PITI ratio and 36% of debt ratio as their qualification ratios. However, your lender may have a set of different qualification ratios, which will affect the maximum loan amount you can borrow and your affordability in home purchasing process. The loan officer of your lender will tell you the qualification ratios your lender requires.

Affordability Calculator
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