Updates automatically as you type.
Calculated in your browser; your inputs are not sent to us. Privacy
Calculation details
Planning estimate only, not financial, tax, or legal advice. Verify assumptions and current rules before making decisions.
This tool runs in your browser. Your calculator inputs and results are never transmitted to us or to ad/affiliate partners. Ads and sponsored links may set third-party cookies to serve and measure them, but they never receive your calculation values. If you explicitly save a scenario, its permitted fields stay in local browser storage until you clear them. See our Privacy Policy.
Use this result
Share the current inputs or ask ChatGPT to explain the calculation in context.
More options
What does this calculator estimate?
Your estimated monthly mortgage payment, including taxes and insurance, is about $2,550. That figure comes from the debt-to-income method: your monthly housing budget equals gross monthly income times your back-end DTI minus non-housing debts. The calculator subtracts property tax, insurance, and HOA dues, then converts the remaining principal-and-interest budget into a fixed-rate loan amount and adds your down payment. For a $85,000 income, $500 monthly debts, 36% DTI, $3,600 annual tax, $150 insurance, 6.25% rate, 30-year term, and $30,000 down, it estimates the loan and max home price. Run the exact number free, no signup, at BoringToolsKit.
How this calculator works
Formula
Debt-to-income method: monthly housing budget = gross monthly income × selected back-end DTI − monthly non-housing debts. The calculator subtracts property tax, homeowners insurance, and HOA dues, then converts the remaining principal-and-interest budget into a fixed-rate loan amount and adds the down payment.
Worked example
With $85,000 annual gross income, $500 in monthly non-housing debts, a 36% DTI limit, $3,600 annual property tax, $150 monthly insurance, no HOA dues, a 6.25% rate, a 30-year term, and $30,000 down, the calculator first finds the monthly housing allowance and then estimates the loan and maximum home price.
Assumptions to verify
- The selected DTI is a planning limit, not a promise of lender approval.
- Property tax, insurance, HOA dues, interest rate, and down payment are current estimates supplied by the user.
- Closing costs, mortgage insurance, maintenance, utilities, and lender-specific underwriting are not included.
Frequently asked questions
How much house can I afford with a DTI cap?
The calculator applies your DTI cap to income, subtracts monthly debts, and uses the remaining amount as the maximum monthly housing-payment budget.
What costs affect an affordable home price?
Income, monthly debts, down payment, interest rate, loan term, property tax, homeowners insurance, HOA dues, and the selected DTI cap affect the estimate.
Is this a mortgage approval estimate?
No. It is a planning estimate based on the inputs and DTI cap. Lenders may use different underwriting rules, fees, and qualifications.
Cite this tool
BoringToolsKit. “Mortgage Affordability Calculator.” boringtoolskit.com/mortgage-afford/ (reviewed August 2026). Free to reference in articles, syllabi, and answer posts with a link.
Privacy: Inputs and results stay in this browser. Any future sponsored recommendation or advertisement will be clearly labeled and kept separate from the calculation.