Home Affordability Calculator

Build a housing budget from your own income and debt-to-income limit. Include taxes, insurance and HOA costs before allocating the remaining budget to mortgage principal and interest.

Enter all amounts in one currency. Currency selection changes labels, not amounts or jurisdiction. No conversion is performed.

Mortgage interest scenarios use the stated monthly-rate approximation. Selecting CAD does not apply Canadian semiannual mortgage compounding; use lender terms to check an actual mortgage quote.

Range: 0–1,000,000,000
Range: 0–1,000,000,000
Range: 0–1,000,000,000
Range: 0–1,000,000,000
Range: 0–100
Range: 1–600; whole numbers
Range: 0.01–100

Enter your values to see an estimate. Enter 0 for amounts that do not apply.

How this calculator works

Monthly debt budget is annual gross income / 12 × your chosen DTI percent. Subtract other debt payments and housing costs, floor the principal-and-interest budget at zero, then solve for the amortizing loan balance. Add the cash down payment to estimate a price.

Worked example

With gross income of 72,000 a year, a chosen 25% cap, 200 in other monthly debts and 300 in monthly housing costs, 1,000 remains for principal and interest. At 0% for 120 months, this supports a 120,000 loan and a 140,000 price with 20,000 down.

Assumptions and limits

A planning estimate does not establish affordability for your full budget or loan qualification. Different lenders use different DTI limits. Enter all housing costs yourself; taxes, insurance, maintenance, closing costs and lender rules are not inferred. A budget shortfall means the entered non-loan costs already exceed the cap.

How to choose your inputs

Use gross household income for the DTI calculation, then enter existing debt payments and housing costs without counting the proposed mortgage twice. Choose a planning cap deliberately rather than assuming it is a lender rule. Estimate property taxes, insurance and association charges for the property you are considering, not a different home.

How to interpret your result

Treat the calculated home price as the result of your selected payment constraint. It does not account for every household expense or the cash needed after closing. Compare the implied housing payment with take-home income and a full spending budget, then test higher property costs before deciding whether the target leaves enough room for other needs.

Primary references

This educational estimate uses your inputs. It is not individualized financial, tax, insurance, or investment advice, a lender offer, approval decision, or a promise of future results.

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