Mortgage Affordability Calculator
Educational calculators — always consult a licensed professional before making financial decisions.
Your finances
Gross pay for everyone on the loan, before tax. Your W-2s or last year's tax return are the figures a lender will check.
Gross monthly income $8,333
Minimum payments from your credit report. They come out of the 36% back-end limit before any mortgage does.
Available for housing under the 36% rule $2,500
Cash you can put in without draining your emergency fund. It is added straight on top of the loan you qualify for.
The 28% rule caps the whole housing payment, not just the loan. Your state's published property tax and insurance figures are used unless you enter your own.
Sets the property tax and home insurance that come out of the same 28% budget.
Property tax 1.4%/yr · insurance $4,582/yr
Only charged when you put down less than 20%.
$0 if none.
Property tax 1.4%/yr · insurance $4,582/yr
A lower rate or a longer term turns the same monthly budget into a bigger loan.
Most buyers choose 30 years for lower payments.
Lowest monthly payment, maximizing the home price you can afford. Most first-time buyers choose this.
Check current rates with your lender. Typical range: 6–8%.
Maximum Home Price
$300,000
Full payment 27.5% of gross income — 28% housing cap binds
Back-End Ratio at Max
33.5%
Monthly Payment at Max Price
Debt-to-Income Breakdown
Based on
This calculator applies the 28/36 rule to the full housing payment — principal, interest, property tax, insurance, PMI and HOA dues. State figures: property tax from Tax Foundation — Property Taxes by State and County, 2026 (2024 effective rates); insurance from Insurance.com — Average homeowners insurance rates by state (Rate Analysis 2026), at $300,000 dwelling coverage. For educational purposes. Actual loan approval depends on credit score, employment history, lender policies, and other factors. Consult a licensed mortgage professional.
Your Saved Scenarios
No saved scenarios yet
Read next
15 vs 30-Year Mortgage
Both loans side by side at Freddie Mac's October 29, 2026 averages (7.24% and 6.60%) for three loan sizes — payment, total interest, and principal paid by years 5 and 10, with the amortization math shown — plus the invest-the-difference argument treated fairly.
Appraisal Came in Low? Your Appraisal Gap Options
What to do when a home appraises below your offer — renegotiate, split the difference, pay the gap in cash, or walk — plus appraisal gap coverage and how to request a reconsideration of value.
Buying Without a Realtor
Buying a home without an agent in 2026 — the phases of the transaction, the paperwork and who prepares it, who supports an unrepresented buyer, the real commission savings after the NAR settlement, and the risks. Includes an interactive calculator for the buyer-side commission you actually capture.
How Much Money Do You Need to Buy a $300,000 House?
The full cash-to-close breakdown for a $300k home in 2026 — down payment options, closing costs, earnest money, reserves, and first-year costs, recalculated at the current Freddie Mac rate.
How Much Cash to Buy a House?
Every line of cash a $400k purchase requires in 2026 — down payment scenarios (3%, 3.5% FHA, 5%, 10%, 20%), closing costs, earnest money, reserves, and first-year costs — with the arithmetic shown. Includes $300k and $500k versions and a printable worksheet.
How Much Money Do You Need to Buy a $500,000 House?
The full cash-to-close breakdown for a $500k home in 2026 — down payment options, closing costs, earnest money, reserves, and first-year costs, recalculated at the current Freddie Mac rate.
Down Payment Assistance: Grants & Programs Explained
How assistance works in 2026 — grants, forgivable second loans, repayable seconds, and mortgage credit certificates — who qualifies, how it stacks with your mortgage, and the repayment catches.
How Much Earnest Money Should You Put Down?
How much to offer (typically 1–3% of price), where it's held, when it's refundable through your contingencies, when you forfeit it, and how it's credited toward your down payment at closing.
First-Time Buyer FAQ
The 30 questions first-time buyers actually ask — how much to put down (the median is 10%, not 20%), what closing costs really run, who can pay them, when PMI ends, and what changes the month you get the keys. Sourced 2026 figures, with a calculator for every answer.
First-Time Home Buyer Guide
The complete first-time buyer journey for 2026 — from deciding whether to buy through getting the keys and your first year: every step and cost, FHA/conventional/VA/USDA loans, down-payment assistance, and a free calculator at each phase.
Home Insurance Cost by State
Average annual homeowners premium in all 50 states and DC, with year-over-year change, cumulative change since 2021, and how each state compares to the national average. Sortable, sourced, and free to cite.
Home Renovation Costs 2026
What renovating actually costs — whole-house tiers and per-square-foot bands, a room-by-room table with a calculator for every line, what drives the number (labor, materials, permits, your metro), contingency norms, and how people pay for it.
How Much House Can I Afford on $100,000 a Year?
The price range a $100,000 salary supports in 2026, by down payment, with the full monthly payment behind it and every assumption shown at the current Freddie Mac 30-year rate.
How Much House Can I Afford on $120,000 a Year?
The price range a $120,000 salary supports in 2026, by down payment, with the full monthly payment behind it and every assumption shown at the current Freddie Mac 30-year rate.
How Much House Can I Afford on $60,000 a Year?
The price range a $60,000 salary supports in 2026, by down payment, with the full monthly payment behind it and every assumption shown at the current Freddie Mac 30-year rate.
How Much House Can I Afford on $75,000 a Year?
The price range a $75,000 salary supports in 2026, by down payment, with the full monthly payment behind it and every assumption shown at the current Freddie Mac 30-year rate.
How Much House Can I Afford on $80,000 a Year?
The price range an $80,000 salary supports in 2026, by down payment, with the full monthly payment behind it and every assumption shown at the current Freddie Mac 30-year rate.
Pre-Approval vs. Prequalification
Prequalification is a self-reported estimate; pre-approval is a verified, documented commitment. What each requires and which one a seller's agent accepts.
Renting vs. Selling Your Home
Should you sell your house or rent it out? The after-tax net-worth comparison, the Section 121 tax clock (sell within ~3 years of moving out), depreciation recapture, and the real cost of being a landlord — with a calculator to run your own numbers.
Title Insurance Cost
Title insurance averages $1,337 (0.42% of price) nationally, but Texas, Florida, and New Mexico fix one mandatory rate by law — and rank among the most expensive states for it, not the cheapest. What promulgated vs. filed rates mean for your own closing.
True Cost of Buying a Home
Every cost of buying, stage by stage — the roughly $700 you spend on an inspection and appraisal before you own anything, earnest money, the 2%–5% at closing, move-in, and the first year of ownership. A master cost table links each line to the calculator that prices it.
USDA Loans: 0% Down for Eligible Areas
How USDA guaranteed loans work in 2026 — 0% down, the 1% upfront and 0.35% annual guarantee fees, the 115%-of-AMI income limit and property eligibility, and how USDA compares with FHA and conventional.
From the blog
HOA Dues and Your Mortgage: How $300 a Month Cuts What You Can Borrow
Lenders count HOA dues as part of your monthly housing cost. This worked example shows how $300 a month shrinks your maximum loan by $44,021, why the debt-to-income cap does not change that, and what special assessments add.
Debt-to-Income Ratio for a Mortgage: What Each Loan Type Allows in 2026
The same buyer can pass one loan type and miss another. This post tests one $90,000 household against the conventional, FHA and VA debt-to-income rules, then shows four ways to move the ratio.
2026 Conforming Loan Limits: The $832,750 Baseline, High-Cost Areas Up to $1,249,125, and What Changes When Your Loan Crosses Into High-Balance or Jumbo
The $832,750 baseline is only the floor of a county-by-county map that tops out at $1,249,125. Here is how FHFA sets it, what Fannie Mae changes for high-balance loans, and why jumbo is a lender question, not an agency rule.
Assumable Mortgages: Which Loans Can Be Taken Over, What the Buyer Must Qualify For, and the Cash Gap Over the Seller's Low Balance
A seller's 2.75% loan is only worth taking over if you can fund the difference between the price and the balance. Here is which loans allow it, what the buyer must qualify for, and the arithmetic of the gap.
Mortgage Offer Letter Rules: Fannie Mae, Freddie Mac and FHA Start-Date Windows
A signed offer can count as income before the first paycheck, but each program sets its own start-date window, paperwork and cash reserve. Here is the side-by-side, and what a slipped start date does to the file.
Getting a Mortgage After a Layoff: Employment Gaps, Severance and Unemployment Income, and What Lenders Count While You Are Between Jobs
With no paycheck, a lender has little to qualify you on. This is what the four main guides say about gaps, unemployment benefits and severance, and which income can fill the space.
Laid Off Before Closing: 10-Day Job Check, What to Disclose and Your Options
A layoff between pre-approval and closing does not automatically end the purchase, but it does change the file. Here is the order to act in, what the guides require, and what each option actually fixes.
Mortgage Affordability Calculator is built and maintained by the RealCostIQ editorial team. Cost ranges and rates are checked against published industry data and contractor quotes, and revised when the underlying figures move. Read our data methodology or more about who builds this. Every calculation runs in your browser — no account, and none of your inputs are stored.
Cost ranges and rates here are checked against contractor quotes and published industry data. If a number still looks off, email Support@RealCostIQ.com and we'll review and fix it.