Mortgage affordability calculator 2026
This mortgage affordability calculator estimates how much home loan principal you may be able to support based on your annual income, monthly debt obligations, interest rate, and loan term. Results are mathematical projections and are not a credit approval or lending decision.
Estimates only. Loan terms and approval depend on lender underwriting.
Mortgage Affordability Calculator
Mortgage Result
Enter loan details to calculate.
How it works
The calculator estimates a maximum monthly principal-and-interest payment using a debt-to-income framework. It compares your gross annual income and reported monthly debt payments, then applies a standard amortization formula based on the interest rate and term you enter. The estimated loan amount represents the principal that could correspond to that calculated payment. This tool does not include property taxes, homeowners insurance, HOA dues, mortgage insurance, or lender-specific underwriting adjustments.
Examples
Example scenario: If a borrower earns $100,000 per year and reports $500 in existing monthly debt, the calculator estimates the maximum principal-and-interest payment based on those inputs and the selected interest rate and loan term. A higher income, lower debt, longer term, or lower interest rate may increase the estimated loan amount. A higher rate or shorter term may reduce it.
Limitations and important notes
This calculator provides an informational estimate only. Mortgage lenders must comply with federal Ability-to-Repay requirements under Regulation Z (12 CFR § 1026.43), which require a reasonable and good-faith determination that a borrower can repay a residential mortgage loan according to its terms. Lenders verify income, assets, employment stability, and financial obligations during underwriting. You can review the official Ability-to-Repay rule at https://www.ecfr.gov/current/title-12/chapter-X/part-1026/section-1026.43 and CFPB consumer guidance on affordability at https://www.consumerfinance.gov/ask-cfpb/how-can-i-figure-out-if-i-can-afford-to-buy-a-home-and-take-out-a-mortgage-en-118/. Actual loan approval, terms, and maximum borrowing amounts vary by lender and loan program.
FAQs
Is this a mortgage pre-approval?
No. This calculator provides a mathematical estimate based on the information you enter. A mortgage pre-approval requires a lender to verify income, assets, employment, credit history, and other underwriting criteria.
How do lenders determine how much I can afford?
Lenders apply federal Ability-to-Repay standards and evaluate verified income, debt obligations, credit profile, employment stability, and other financial factors. Debt-to-income ratios are commonly used, but approval standards and thresholds vary by lender and loan program.
Does this include property taxes and insurance?
No. This estimate reflects principal and interest only. Most lenders consider total monthly housing expense, including property taxes, homeowners insurance, mortgage insurance (if applicable), and other required costs.
How much mortgage can I afford with a $100,000 salary?
Affordability depends on total monthly debts, interest rate, loan term, and verified income documentation. This calculator estimates a principal amount based on the inputs you provide. Actual borrowing limits vary by lender and underwriting standards.
How much mortgage can I afford with a $150,000 or $200,000 salary?
Higher income may support a larger estimated loan amount, depending on monthly debt obligations and current interest rates. However, lenders apply underwriting standards and federal Ability-to-Repay rules when making credit decisions.
Calculations are simplified and for guidance only. Always double-check results and current rules with official sources or a qualified professional before making financial decisions.