Start with the monthly number, end with a price range
The reverse calculator: from your monthly budget to a price range
The short version
Type in the most you want to spend on housing each month, the costs that sit on top of the loan, the rate and term from your own quote, and the cash you can bring. The calculator subtracts the extras, converts the rest into a loan amount, and adds your cash to show a price range. Every field starts empty.
Last reviewed against the primary sources listed below.
How the math works
The calculator removes property tax, insurance, dues and mortgage insurance from your budget. What remains is the principal-and-interest amount. It then uses the standard amortization formula with your rate and term to find the loan that amount supports, and adds the cash you entered minus closing costs.
What it does not do
- It does not check credit, income or loan program rules.
- It does not suggest a rate. Use the one on your own Loan Estimate.
- It does not store or send anything you type.
You asked, we answered
How much house can I afford?
Enter the monthly housing cost you are comfortable with, your quoted rate and term, and your cash. The calculator shows the loan amount and price range that budget supports.
How much mortgage can I afford?
The loan amount line in the result is the most your chosen monthly budget can support at the rate and term you entered, after taxes, insurance and dues.
Can I use this as a rent affordability calculator?
Yes, for comparison. Enter the same monthly number you would pay in rent and see what price range it supports if you bought instead.