Affordability Calculator

Use this calculator to determine how much house you can afford. By entering details about your income, down payment, and monthly debts, you can estimate the mortgage amount that works with your budget.

You can afford a home up to: $0

Your debt-to-income ratio is 36%
Quite affordable.

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Affordability Help

Annual Income

This is the combined annual income for you and your co-borrower. Include all income before taxes, including base salary, commissions, bonuses, overtime, tips, rental income, investment income, alimony, child support, etc.

Down Payment

The typical rule of thumb is to pay 20 percent of the home's price as your down payment, although some mortgage loans require as little as 3.5 percent down. Your down payment reduces the total amount of your mortgage loan, so the more money you put down, the lower your payments will be - or the more expensive a house you can buy.

Other Monthly Debts

Include all monthly debt payments for of you and your co-borrower, including: minimum monthly required credit card payments, car payments, student loan payments, alimony/child support payments, any house payments (rent or mortgage) other than the new mortgage you are seeking, rental property maintenance, and other personal loans with periodic payments.

Do NOT include: credit card balances you pay off in full each month, existing house payments (rent or mortgage) that will become obsolete as a result of the new mortgage you're seeking, or the new mortgage you're seeking.

Loan Term

Your loan program can affect your interest rate and monthly payments. Choose from 30-year fixed, 15-year fixed, and more in the calculator.

Loan Type

There are several types of mortgage loans, but the most commonly used are fixed-rate and adjustable-rate loans. Fixed-rate loans have the same interest rate for the entire duration of the loan. That means your monthly payment will be the same, even for long-term loans, such as 30-year fixed-rate mortgages. Two benefits to this loan type are stability, and being able to calculate your total interest up front. Adjustable-rate mortgages (ARMs) have interest rates that can change over time. Typically they start out at a lower interest rate than a fixed-rate loan, and hold that rate for a set number of years, before changing interest rates from year to year. For example, if you have a 5/1 ARM, you will have the same interest rate for the first 5 years, and then your interest rate will change from year to year. The main benefit of an adjustable-rate loan is starting off with a lower interest rate.

Interest Rate

This field is pre-filled with the current average mortgage rate. Your actual rate will vary based on factors like credit score and down payment.

Property Tax

The mortgage payment calculator includes estimated property taxes based on the home's value. You can edit this in the advanced options.

Home Insurance

Home insurance or homeowners insurance is typically required by lenders, depending on the loan program. You can edit this number in the mortgage calculator advanced options.

HOA Fees

A homeowners association fee (HOA fee) is an amount of money that must be paid monthly by owners of certain types of residential properties, and HOAs collect these fees to assist with maintaining and improving properties in the association.

Debt-to-Income (DTI)

Your DTI is expressed as a percentage and is your total "minimum" monthly debt divided by your gross monthly income. The conventional limit for DTI is 36% of your monthly income, but this could be as high as 41% for FHA loans. A DTI of 20% or below is considered excellent.

REVIEWS

Nikki Brooks

Let me tell you what a blessing Rebecca is. When all other realtors were turning me down, because I didn’t have my closing costs, she told me not to worry. She became my realtor and I must tell you it was such a wonderful experience she made me feel so comfortable. She made me feel at home even before I bought my forever home. This is the person you want in your corner for your home buying experience. There’s so much I want to say , but I’m gonna let you see for yourself if you have her on your team just know your winning this is a opportunity that you don’t want to pass up. So please don’t hesitate to call her. I’m so glad I answered when she called . She is absolutely amazing and beautiful inside and out.

Christian Gray

Rebecca is by far one of the most knowledgeable and passionate brokers I've had the pleasure of working with. Nothing, and I mean nothing about our interactions seemed "transactional", it was all genuine. This is so important while looking for a home, I don't want to be SOLD, I want the broker passionately working with me and for me to find the perfect home for me. Without a doubt, I 100% recommend the Savitski Group.

Samantha S

Rebecca is extremely knowledgeable on the process of real estate sales and financing. I started the process of buying a condo approved for FHA approval which actually was a two story townhouse style condo. A diamond 💎 for the price. After recommending I get an inspection I found electrical issue and roofing problems. She helped me get pricing for what the expected repairs would be. I decided to walk away and her reaction was not of disappointment but support. I will return to Rebecca when I’m ready for the next property as she fought hard for me to be the first in bidding process and had my best interests on the line. As a former realtor in NYC helping individuals complete condo and coop board packages for my broker, I understand when someone is blowing smoke or understands the purchasing process. She will go to bat for you. In this market with limited supply you need someone in your corner and Rebecca is that diamond.