Mortgage Affordability and Mortgage Payment Calculator

In the journey of buying a home, understanding your financial standing and the impact of a mortgage on it is critical.


Mortgage Affordability Calculator

The Mortgage Affordability Calculator reflects on your annual income, existing monthly debts, and proposed down payment to generate maximum loan amounts at different debt-to-income ratios. It gives you an understanding of what you might afford comfortably. DTI (Debt to Income) includes not just your mortgage payments, but also your total monthly debt payments (incl. car loans, student loans, credit card payments etc.).

Mortgage Payment Calculator

The Mortgage Payment Calculator helps in breaking down your proposed mortgage amount into monthly payments, factoring in aspects such as interest rates, insurance, homeowners association fees, and taxes. The tool even calculates the benefits of making extra principal payments. Together, these calculators provide a comprehensive view of your potential mortgage scenario, facilitating informed decision making.

Navigating Your Path to Home Ownership

Mortgage Affordability Calculator



25% DTI

This ratio is considered the safest and is commonly recommended by financial advisors including Dave Ramsey.

30% DTI

This ratio is a slight stretch from the 25% but is generally still manageable for most people.

36% DTI

This ratio is often the maximum common limit lenders are generally willing to accept. It is crucial to manage your finances to avoid potential financial troubles.


Mortgage Payment Calculator

Optional Settings



Mortgage Debt to Income Charts


Mortgage Payment Charts





Disclaimer

The data provided on this page is for informational purposes only and is not intended for trading purposes or advice. It is provided on a best-efforts basis and we do not guarantee the accuracy, completeness, timeliness, or correct sequencing of the data.

This site and its owners shall not be liable for any errors or delays in the content, or for any actions taken based on the content.

Please be aware that investing in financial markets and securities involves risk. Past performance of these investments is not indicative of their future performance. Investments can lose value and investors can lose the entire amount of their investment. Before investing, please carefully consider your financial situation and risk tolerance to determine if the investment aligns with your financial goals. Seek advice from a professional financial advisor if you have any doubts. This information is provided 'as is' and solely for informational purposes, not for investment purposes or advice. This information is not an offer to sell or a solicitation to buy any security.