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Input your budget information below to calculate a monthly mortgage payment you can afford.

  • Income
  • Expenses
  • Debt
  • Results

Fill in both your annual gross income and your monthly net income below.

$ /yr.

Your annual gross income is the amount you earn in a year before any taxes or withholdings are taken out.

Includes:

  • Your income
  • Other co-borrower's income
  • Rental properties
  • Investments
  • Child support/alimony
  • Other

$ /mo.

Your monthly net income is the amount you take home after taxes and withholdings (e.g., health insurance, 401k contributions or other deductions from your paycheck).

Includes:

  • Your income
  • Other co-borrower's income
  • Rental properties
  • Investments
  • Child support/alimony
  • Other

Track your ongoing monthly expenses here, as well as how much you're saving each month (other than for a house).

Please note: If you do not enter expenses, your results may not be accurate.

Add expenses Continue without expenses

$ /mo.

Includes:

  • Heat (gas, fuel, etc.)
  • Electricity
  • Water and sewer
  • Other

$ /mo.

Includes:

  • Home phone
  • Mobile phone
  • Internet
  • Cable/satellite

$ /mo.

Includes:

  • Health
  • Auto
  • Life
  • Other

$ /mo.

Includes:

  • Groceries
  • Eating out
  • House cleaning service
  • Clothing
  • Other entertainment

$ /mo.

Includes:

  • Child care
  • School/tuition
  • Child support/alimony

$ /mo.

Includes:

  • Vacation
  • Travel expenses
  • Gas
  • Auto maintenance
  • Pet expenses
  • Other

$ /mo.

Includes:

  • Rainy day funds
  • Retirement
  • Home repair projects
  • College
  • Other

Indicate how much you put toward loans or credit card payments each month.

$ /mo.

Includes:

  • Credit cards
  • Auto loans
  • Department store cards
  • Personal loans
  • Gas cards
  • Other loans
Please Note:

Your debt may exceed the recommended values at this time. Learn more in our article What you make vs. what you owe or contact a Lending Specialist for additional information.

Please Note:

Based on your inputs, your debt and expenses exceed your income at this time. Please contact a Lending Specialist for additional information

Monthly mortgage payment

(includes principal, interest, taxes, insurance and HOA fees)

What you can afford:

$0/mo.

Recommended maximum payment if you reduce debt:

Recommended maximum payment if you reduce expenses:

Recommended maximum payment if you reduce debt and expenses:

$0/mo.

This scenario is based on what you can afford.

When you're thinking about buying a new home, ask yourself, “How much should I borrow?” instead of, “How much could I borrow?” It's an important distinction: Rather than focusing on the largest loan amount you could possibly get from a mortgage. This approach focuses on the amount that fits your budget.

Please note: You did not enter any values for debt, which may affect the accuracy of your results. (To input values, return to debt and recalculate.)

Please note: You did not enter any values for expenses, which may affect the accuracy of your results. (To input values, return to expenses and recalculate.)

Please note: You did not enter any values for debt or expenses, which may affect the accuracy of your results. (To input values, return to debt or expenses and recalculate.)

Gross monthly income Info Button $0
What you can afford
$0/mo.		 Info Button
Debt$0/mo. Info Button
Recommended
maximum mortgage
payment plus debt$0/mo.		 Info Button
Expenses,
income taxes &
withholdings$0/mo.		 Info Button
Remaining$0/mo. Info Button
Warning
This scenario is based on the recommended maximum payment you could comfortably afford if you reduce your debt by 0 $ and expenses by 0 $.

Review your debt and expenses to determine whether reductions are possible.

 This scenario is based on the recommended maximum payment you could comfortably afford if you reduce your expenses by 0 $.

Review your expenses to determine whether reductions are possible.

 This scenario is based on the recommended maximum payment you could comfortably afford if you reduce your debt by 0 $.

Review your debt to determine whether reductions are possible.
Gross monthly income Info Button $0
Recommended
maximum payment
if you reduce debt$0/mo.		 Info Button
Debt$0/mo. Info Button
Recommended
maximum mortgage
payment plus debt$0/mo.		 Info Button
Modified Expenses,
income taxes &
withholdings$0/mo.		 Info Button
Remaining$0/mo. Info Button
Warning

How is this calculated?

Based on industry standards, your debt-to-income ratio (DTI), which is comprised of your monthly mortgage payment plus any existing monthly debts, is recommended to be 36% or less of your gross monthly income, and your mortgage payment is recommended to be 28% or less of your gross monthly income.
Learn more about debt-to-income ratios

Want to change any of your budget information?

Edit entries

Gross monthly income

Your monthly gross income is the amount you earn each month before any taxes or withholdings are taken out.

What you can afford

What you can afford is an estimated amount based on what you have entered for your income, debt and expenses.

Maximum you can afford by reducing debt

This is the recommended maximum amount you could afford if you were able to reduce your debt by the amount shown above.

Debt

Your debt in this case reflects the monthly amount you entered that goes toward any credit card payments (e.g., purchases made with major credit cards like a Mastercard or Visa, or credit cards from a department store, gas station, etc.) and loan payments (such as school loans or the loan on your car).

Modified debt

This number reflects your amount of debt after you have reduced it by the recommended amount, in order to be able to afford a higher monthly mortgage payment.

Recommended maximum mortgage payment plus debt

This amount is based on the industry standard that your debt-to-income ratio (DTI), which is comprised of your monthly mortgage payment plus any existing monthly debts, is recommended to be 36% or less of your gross monthly income.

Expenses, income taxes & withholdings

This amount is based on what you entered for expenses like food, entertainment and clothing; plus any income tax or withholdings taken out of your paycheck.

Remaining

This is the amount of your gross monthly income that is left over after factoring in a monthly payment you can comfortably afford and your debt, expenses, income taxes and withholdings.