What is this calculator?
Estimate a loan amount from your chosen monthly housing budget.
What can you use it for?
Use this tool to compare a financial scenario using the assumptions you control. Estimate a loan amount from your chosen monthly housing budget.
How to use it
- Enter monthly income.
- Enter housing budget share (%).
- Enter other monthly housing costs.
- Enter annual rate (%).
- Enter loan years.
- Enter available down payment.
- Select Calculate (or Generate for random tools).
- Read the answer and any additional results below the form. Check the units and the limits of the method.
Formula and method
Your entered housing share sets the payment budget. Other housing costs are subtracted before the loan amount is solved.
Worked example
Monthly income: 200000, Housing budget share (%): 30, Other monthly housing costs: 10000, Annual rate (%): 10, Loan years: 20, Available down payment: 1000000. The result is 6,181,230.93458338 (estimated purchase budget).
Assumptions and limits
Your chosen budget, not a lender approval. Taxes, credit and eligibility are not assessed.
Frequently asked questions
What inputs does the House Affordability Calculator need?
Use monthly income, housing budget share (%), other monthly housing costs, annual rate (%), loan years, available down payment. Read the answer and any additional results below the form. Check the units and the limits of the method.
What assumptions apply to the House Affordability Calculator?
Your chosen budget, not a lender approval. Taxes, credit and eligibility are not assessed.