Find a home price that fits your budget.
Start with your income and debts. Then include taxes, insurance, and the costs that are easy to overlook.
Your numbers
Example values are starting assumptions, not current rate quotes. Replace them with local estimates or lender quotes. Enter 0 for the optional monthly limit to use the income-based calculation.
Your Affordability Results
Enter your numbers and select Calculate My Home Budget.
Planning estimate, not lender approval. Review take-home pay, living expenses, savings, and reserves before choosing your price.
Simple Mortgage Calculator
Enter a home price to estimate the monthly payment. Example values are not rate quotes. Add mortgage insurance if your loan requires it.
Fixed-rate estimate. Taxes and insurance may change. Payment excludes utilities, maintenance, closing costs, and loan-program-specific upfront fees.
How this calculator works
We use the lower of your housing-income limit and your total-debt limit after subtracting existing debt payments. If you enter a comfortable monthly limit, we also apply that cap. We solve for a purchase price whose mortgage payment, property taxes, homeowners insurance, HOA dues, and estimated mortgage insurance fit that amount.
The default 28% housing and 36% total-debt limits are editable planning assumptions. They are not universal lending requirements. Maintenance is shown separately and does not reduce the calculated purchase ceiling. If your monthly limit must include maintenance, lower it to leave room for that reserve.
Before you start shopping
- Get local property tax and homeowners insurance estimates. Both can change.
- Keep closing costs and emergency savings separate from your down payment.
- Budget for utilities, moving, repairs, and regular maintenance.
- Compare lender Loan Estimates and confirm mortgage insurance costs.
This tool models a fixed-rate mortgage with a cash down payment. It does not model financed upfront fees, FHA or VA program-specific insurance, adjustable rates, or temporary rate buydowns.
Keep learning
Read the LREI home affordability guide · Why your mortgage payment can be higher than an online estimate
Helpful source: CFPB: Get to know loan costs. Your actual costs and qualification depend on the lender, loan program, property, and financial profile.