How to use Mortgage Affordability Calculator

1. Prepare the required inputs

Estimate a mortgage budget using income, existing debts and both housing and total-debt limits. Use the units and options beside each field. Results update as inputs change; reset returns to example inputs.

Annual gross income: minimum 1, maximum 1000000000000
Down payment: minimum 0, maximum 1000000000000
Existing monthly debt payments: minimum 0, maximum 1000000000000
Nominal annual interest (%): minimum 0, maximum 30
Loan term (years): minimum 1, maximum 40

2. Try a worked example

At 60,000 annual income and 1,000 monthly debts, the payment budget is 800, not 1,400.

3. Understand the calculation

Payment budget = max(0, min(28% of monthly income, 36% of monthly income − other debts)). Loan = present value of payments.

4. Read the assumptions

Uses a simplified 28/36 debt model, not a loan approval. Taxes, insurance, HOA, fees and local lending rules must be budgeted separately.

5. Check and compare results

Match entered values to their labels and units. Review output labels alongside the assumptions, then change one input at a time. A currency selector changes display labels without converting amounts. Use the available save or copy actions and retain the input values so the estimate can be reproduced.

6. Fix an invalid input

Complete required fields and respect the listed bounds. Check date order, age relationships and mode-specific requirements where relevant; the error message identifies invalid combinations. Reset to example inputs to recover. A valid calculation applies to its stated model and does not verify a real-world outcome.