Calculators
Home Affordability Calculator
Results are estimates only. See the disclosure below the results.
Affordability estimator
Estimate a loan amount based on income, debts, and a target debt-to-income ratio.
Housing budget
$3,040/mo
Estimated APR
6.526% Estimated APR
Estimated APR is provided for informational purposes only. Actual APR may vary based on lender terms, fees, credit profile, and other factors.
Estimated loan amount at the assumptions above: $480,961
Loan term: 30 years
Estimate only — actual qualification includes taxes, insurance, mortgage insurance, credit, reserves, and other factors.
Verify: sanity check $3,040 monthly P&I.
Estimated APR
6.526%
Interest rate: 6.500%
Prepaid finance charges: $1,295.00
Amount financed: $479,665.89
The Annual Percentage Rate (APR) shown is an illustrative estimate for educational purposes only. It is calculated from the figures you enter and assumes the loan is held to full term with no changes. It is not a quote, offer, commitment to lend, or an advertisement of specific credit terms. Actual APR depends on the final loan amount, interest rate, term, and the finance charges that apply to your transaction, and will be disclosed on your Loan Estimate and Closing Disclosure. Third-party costs that are not finance charges (such as appraisal, title services you shop for, recording fees, taxes, and homeowners insurance) are excluded from APR. Rates, fees, and terms are subject to change and to credit approval; not all applicants will qualify.
How This Calculator Works
How Much Home Might Fit Your Budget?
Affordability is usually framed around debt-to-income ratio (DTI): how much of your gross monthly income goes to housing and other debts.
What the inputs mean
Gross monthly income is your income before taxes. Monthly debts include car loans, student loans, minimum credit card payments, and similar obligations. Down payment, rate, taxes, and insurance determine how much of the payment goes to the loan itself.
How to read the results
The result shows a price range that fits the DTI assumptions you set. The maximum a lender might allow is not always the payment that feels comfortable, so compare the monthly figure to your real spending. Estimated APR folds lender fees, discount points, and other prepaid finance charges into a single yearly cost figure, so it is usually a little higher than the note rate. Use it to compare scenarios, not as a quoted rate.
Why actual approval can differ
Lenders look at credit history, reserves, employment, the property, and program guidelines. A preapproval is the way to replace this estimate with a real review.