Home affordability calculator.
Estimate the home price range your comfort target monthly payment supports. The point is comfortable carrying costs, not maximum approval — work backward from a payment you can live with.
Educational planning tool only
This calculator does not provide loan quotes, approvals, or commitments to lend. Interest rate inputs are not APRs. Final terms depend on verified borrower details, loan structure, property details, and market conditions.
What this models
- Purchase price range based on your target monthly payment comfort
- Realistic ownership cost assumptions including property taxes, insurance, HOA, and mortgage insurance
- Cash-to-close estimate so you do not get surprised late in the process
Want to price a specific home instead? Use the mortgage payment calculator.
Your comfort target
Set the monthly payment you want to stay within. Affordability solves backward from your comfort number — not a max approval target.
Assumptions and presets
Market-aligned planning assumptions from a representative conventional scenario. Your actual rate depends on the full rate tool review.
These presets set editable planning assumptions. They are not quotes or APRs.
Cost assumptions
Estimated affordability
Planning estimate only. This is not a preapproval, approval amount, or commitment to lend.
Estimate only. Not a loan quote, approval, or commitment to lend. Taxes, insurance, HOA, and mortgage insurance are estimates and can change. Interest rate inputs are not APRs.
Planning tool only. This calculator provides estimates to help evaluate scenarios. It is not a loan offer, not a rate quote, and not a commitment to lend.
No APR and no Loan Estimate. Interest rate inputs are not APRs and results do not represent a Loan Estimate. Your official lender Loan Estimate and closing disclosure control final terms and costs.
Assumptions and limits. Results are based on the inputs you provide and standard amortization math. They do not include all settlement charges, escrows, prepaid items, taxes, insurance, HOA dues, mortgage insurance changes, credit score impacts, or underwriting conditions.
No approval or qualification. This calculator does not determine approval, eligibility, ability to repay, or affordability.
The Mortgage Expert · NMLS 2412313 · Equal Housing Opportunity.
How to read the results
Estimated home price
Every result is assumption-driven: change inputs and the affordable price moves. Stress-test or the output can mislead you into a number you cannot close or live with.
This is the home price that fits your target monthly payment based on the assumptions you entered. It is not a lender approval amount and not a target to max out on. Run conservative presets until the payment still feels livable with reserves intact.
Cash to close
Cash to close is usually where buyers get surprised — this is where deals fall apart after contract. This tool estimates down payment, typical purchase closing costs, and a simple prepaid buffer. Adjust assumptions to match reality. This is not a Loan Estimate and does not include lender credits, points, full escrow funding, or title variations.
Carrying costs matter early
Property taxes and insurance can swing affordability more than small rate tweaks. If the estimate feels off, fix insurance and taxes before chasing a higher price. The goal is not your maximum approval — it is a payment and cash position you can sustain.
More calculators
Get my mortgage strategy
If you want a second set of eyes, I will sanity-check your assumptions, confirm the payment range, and help you choose a structure that fits your risk and cash flow.
- Lock a comfortable payment range — not the top of what you might get approved for
- Pressure-test taxes, insurance, and MI so you do not overextend on carrying costs
- Build cash to close that survives real lender numbers, not best-case inputs
Planning only. No quotes. No commitments. Interest rate inputs are not APRs.
Home affordability calculator questions
How much house can I afford per month
A better question is what monthly payment you can carry without stressing your budget or draining reserves. This calculator starts with your target all-in payment and estimates a home price from your assumptions. Most people confuse approval with comfort — plan for the payment you want to live with, not the ceiling a lender might show.
Is affordability the same as what I get approved for
No. Approval follows underwriting guidelines and verified facts. Affordability is personal: lifestyle, savings, and tolerance when taxes or insurance jump. Many buyers stay well under max approval — that is often the financially sane move.
Is this calculator a Loan Estimate
No. This is planning only. A Loan Estimate comes after application and documented numbers. This tool does not include lender credits, points, escrow funding rules, or title line items.
What matters more for affordability — rate or insurance and taxes
All of them matter. Insurance and property taxes routinely move the number more than a small rate change. If the estimate feels wrong, adjust tax and insurance first — this is where buyers overestimate what they can afford.
How much cash do I need to close on a home purchase
Cash to close usually includes down payment, purchase closing costs, and prepaids that seed escrow. This calculator gives a planning estimate so you are not blindsided — underestimating here is where deals fall apart after contract.
Does the interest rate used here include APR
No. Rate inputs are planning assumptions only, not APRs. Final APR depends on fees, structure, and verified borrower details.
Does this calculator include HOA and mortgage insurance
Yes. HOA counts if you enter it. Mortgage insurance is your estimate to adjust. VA monthly MI is zero. Conventional and FHA MI vary by loan details — do not treat the default as gospel.