Find your homebuying budget before you start shopping
Use this affordability calculator to estimate your monthly payment, review debt-to-income, and see how your income, debts, and everyday expenses affect your buying power.
Estimate your payment based on price, rate, taxes, insurance, and down payment
Review affordability using income, monthly debts, and living expenses
Reverse calculate your budget by entering the monthly payment you want to stay near
Why payment alone doesn't tell the full story
A mortgage payment might look workable at first glance, but real affordability depends on the full picture. Income, monthly debt, and everyday expenses all matter.
This calculator helps you go beyond a simple payment estimate so you can build a housing budget that fits your goals and your day-to-day finances.
How the affordability calculator works
1) Enter the mortgage details
Start with the estimated purchase price, down payment, interest rate, taxes, insurance, and loan type.
2) Add income and monthly debts
Enter household income and recurring credit obligations like auto loans, credit cards, student loans, and other monthly debts.
3) Include monthly living expenses
Add real-world expenses like utilities, groceries, fuel, childcare, and other budget items to get a more realistic view of affordability.
4) Review the analysis
The calculator shows payment estimates, DTI, program eligibility insights, and how much room may be left in your monthly budget.
The calculator also includes a reverse calculation tab so you can start with a target monthly payment and estimate a home price range that may fit.
Estimate your budget with real numbers
Use the calculator below to explore different scenarios and see how payment, income, debts, and living expenses work together. For the most useful results, enter realistic estimates for taxes, insurance, monthly debts, and everyday expenses.
This tool is for educational and planning purposes only. It is not a loan application or pre-approval.
Use the tool below to estimate your payment and review affordability
Why this calculator is helpful
A payment estimate is a good starting point, but affordability usually comes down to more than principal and interest. This calculator helps you look at the bigger picture before you start seriously shopping.
Estimate monthly payment using your loan assumptions
Review front-end and back-end debt-to-income
Factor in monthly debts and living expenses
Compare different purchase price and down payment scenarios
Use the reverse calculation tab to work backward from a target payment
Frequently Asked Questions
What does this calculator help me estimate?
This calculator helps estimate your monthly housing payment and shows how that payment fits alongside income, monthly debts, and everyday expenses.
Does this tell me exactly how much house I can qualify for?
No. This tool is for educational and planning purposes only. Actual loan qualification depends on a full review of credit, income, assets, property details, and loan guidelines.
Why does the calculator ask for debts and monthly expenses?
Because affordability is more than just the mortgage payment. Monthly debts and living expenses can have a major impact on how comfortable a payment feels.
What is the reverse calculation feature?
The reverse calculation tab lets you start with a target monthly payment and estimate a home price range that may fit based on the assumptions you enter.
Can I compare different loan scenarios?
Yes. You can change purchase price, down payment, interest rate, taxes, insurance, and other inputs to compare different outcomes.
Is using this calculator the same as getting pre-approved?
No. This calculator is not a pre-approval or credit decision. It is a planning tool to help you understand your budget.
Want help turning these estimates into a real plan?
If you'd like, I can review your numbers with you, answer questions about loan options, and help you understand what payment range may make sense based on your goals.
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This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.
Carson Morgan is licensed in: AK, AZ, CO, NM, TX, NMLS # 2581727
Kristen Morgan is licensed in: NM. NMLS # 2598789
Corporate Office: NEXA Mortgage LLC | NMLS # 1660690 | AZ BANKER license number: BK-2006218 | 5559 S Sossaman Rd Building 1 #101 Mesa, AZ 85212
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Disclaimer: All loans subject to qualifying factors. Not all applicants will qualify.
Notice To Texas Loan Applicants: Consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550.
The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.