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Mortgage Calculator

Determine how much house you can afford, estimate monthly payments, and understand your mortgage qualification requirements.

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Qualification Results

Chart will be displayed after calculation
Mortgage
Payment
DTI
$0.00 Maximum Mortgage Amount
Monthly Payment $0.00
DTI Ratio 0%
Monthly Income $0.00
Monthly Debts $0.00
Down Payment $0.00

How Mortgage Qualification Works

Our mortgage qualification calculator estimates how much home you can afford based on your income, debts, and down payment. Lenders use similar calculations to determine your maximum loan amount.

Key Qualification Factors

  • Debt-to-Income Ratio (DTI): Most lenders require your total monthly debts (including the new mortgage) to be under 43% of gross monthly income
  • Down Payment: A larger down payment reduces your loan amount and may eliminate private mortgage insurance (PMI)
  • Interest Rate: Even a small rate difference significantly affects your qualification amount and monthly payment
  • Loan Term: A 30-year term lowers monthly payments; a 15-year term saves substantial interest

Tips for Better Qualification

  • Pay down existing debts to improve your DTI ratio
  • Save for a larger down payment (20% avoids PMI)
  • Improve your credit score to secure a lower interest rate
  • Consider all homeownership costs: property taxes, insurance, and maintenance

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