Formula and calculation method
Available mortgage payment = monthly income × housing share − recurring housing costs. Borrowing capacity = payment × annuity present-value factor.
User-selected affordability ratio. Does not assess credit, lender approval or local lending rules.
How to use house affordability calculator
- Set Gross monthly income. The example below uses 6000.
- Set Maximum housing share (%). The example below uses 28.
- Set Monthly taxes, insurance and fees. The example below uses 300.
- Set Down payment. The example below uses 50000.
- Set Annual interest rate (%). The example below uses 6.
- Set Mortgage term (years). The example below uses 30.
- Select Calculate to update the result. Reset restores the illustrated inputs. Copy, print or download your own result if you need a record.
Worked example
Example inputs
- Gross monthly income
- 6000
- Maximum housing share (%)
- 28
- Monthly taxes, insurance and fees
- 300
- Down payment
- 50000
- Annual interest rate (%)
- 6
- Mortgage term (years)
- 30
- Estimated affordable price
- 280,172.42786142
- Maximum principal
- 230,172.42786142
- Monthly mortgage allowance
- 1380
Inputs and results explained
House Affordability Calculator takes 6 inputs. Fill each one using the same units and conventions, then select Calculate.
- Gross monthly income: a number of 0 or more. The worked example uses 6000.
- Maximum housing share (%): a number from 0 to 100. The worked example uses 28.
- Monthly taxes, insurance and fees: a number of 0 or more. The worked example uses 300.
- Down payment: a number of 0 or more. The worked example uses 50000.
- Annual interest rate (%): a number from 0 to 100. The worked example uses 6.
- Mortgage term (years): a number from 0.08333333333333333 to 100. The worked example uses 30.
The result panel reports Estimated affordable price, Maximum principal and Monthly mortgage allowance, so you can see the whole outcome rather than a single figure.
Factors affecting your result
User-selected affordability ratio. Does not assess credit, lender approval or local lending rules.
Changing gross monthly income changes the scenario being evaluated. Adjust one input at a time when comparing results, keep a copy of the assumptions, and compare values using the same unit and period. A precise arithmetic result does not make an uncertain assumption precise.
Frequently asked questions
How does the house affordability calculator work?
Available mortgage payment = monthly income × housing share − recurring housing costs. Borrowing capacity = payment × annuity present-value factor.
What inputs does House Affordability Calculator need?
Enter gross monthly income, maximum housing share (%), monthly taxes, insurance and fees, down payment, annual interest rate (%), mortgage term (years). Read the unit labels; percentages are entered as ordinary percentages, not decimal fractions.
How should I interpret the house affordability calculator result?
User-selected affordability ratio. Does not assess credit, lender approval or local lending rules.
Are my house affordability calculator inputs uploaded?
No. The calculation runs in this browser. Favorites, recent tool names, theme and formatting preferences may be saved locally, but calculation inputs are not sent to a calculation server or stored by this website. Shared links do not include entered values.
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