This mortgage affordability calculator helps you figure out how much house you can afford by analyzing your monthly income, existing debts and assumed payment level. Everything there is to know you how much you can actually borrow is explained right after the form.

## How much house can I afford?

Apart from using our mortgage affordability calculator that can take account of all the most important aspects, you can quickly check below the questions and their answers of each situation.

### How much house can I afford for 500 a month?

In case someone is able to pay over the next 30 years a monthly payment $500 for a mortgage loan let’s assume different interest rate levels and see how much house he can afford:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $135,274.26 | $44,725.74 |

2.50% | $126,543.55 | $53,456.45 |

3.00% | $118,594.69 | $61,405.31 |

3.50% |
$111,347.49 |
$68,652.51 |

4.00% |
$104,730.62 |
$75,269.38 |

4.50% |
$98,680.58 |
$81,319.42 |

5.00% | $93,140.81 | $86,859.19 |

5.50% | $88,060.88 | $91,939.12 |

6.00% | $83,395.81 | $96,604.19 |

### How much house can I afford for 600 a month?

In case someone willing to pay over the next 30 years a regular payment $600/month for a mortgage let’s see how much house he can afford at different interest levels:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $162,329.11 | $53,670.89 |

2.50% | $151,852.26 | $64,147.74 |

3.00% | $142,313.63 | $73,686.37 |

3.50% | $133,616.99 |
$82,383.01 |

4.00% | $125,676.74 |
$90,323.26 |

4.50% | $118,416.70 |
$97,583.30 |

5.00% | $111,768.97 | $104,231.03 |

5.50% | $105,673.06 | $110,326.94 |

6.00% | $100,074.97 | $115,925.03 |

### How much house can I afford for 700 a month?

In case someone is willing to pay monthly over the next 30 years $700 for a house loan let’s figure out how much he can afford to borrow at different interest rate percentages:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $189,383.96 | $62,616.04 |

2.50% | $177,160.97 | $74,839.03 |

3.00% | $166,032.57 | $85,967.43 |

3.50% | $155,886.49 |
$96,113.51 |

4.00% | $146,622.87 |
$105,377.13 |

4.50% | $138,152.81 |
$113,847.19 |

5.00% | $130,397.13 | $121,602.87 |

5.50% | $123,285.23 | $128,714.77 |

6.00% | $116,754.13 | $135,245.87 |

### How much house can I afford for 800 a month?

In case someone is willing to pay monthly over the next 30 years $800 for a house loan let’s figure out how much he can afford to borrow at different interest rate percentages:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $216,438.81 | $71,561.19 |

2.50% | $202,469.68 | $85,530.32 |

3.00% | $189,751.51 | $98,248.49 |

3.50% | $178,155.99 |
$109,844.01 |

4.00% | $167,568.99 |
$120,431.01 |

4.50% | $157,888.93 |
$130,111.07 |

5.00% | $149,025.29 | $138,974.71 |

5.50% | $140,897.41 | $147,102.59 |

6.00% | $133,433.29 | $154,566.71 |

### How much house can I afford for 900 a month?

In case someone is available to pay over the next 30 years $900 on a monthly basis, for a loan let’s figure out how much house he can afford at different interest rate percents:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $243,493.66 | $80,506.34 |

2.50% | $227,778.38 | $96,221.62 |

3.00% | $213,470.44 | $110,529.56 |

3.50% |
$200,425.49 |
$123,574.51 |

4.00% |
$188,515.12 |
$135,484.88 |

4.50% |
$177,625.04 |
$146,374.96 |

5.00% | $167,653.46 | $156,346.54 |

5.50% | $158,509.59 | $165,490.41 |

6.00% | $150,112.45 | $173,887.55 |

### How much house can I afford for 1000 a month?

For someone capable to pay over the next 30 years $1,000 per month for a mortgage let’s find out how much house he can afford by specific interest rate percents:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $270,548.52 | $89,451.48 |

2.50% | $253,087.09 | $106,912.91 |

3.00% | $237,189.38 | $122,810.62 |

3.50% | $222,694.98 |
$137,305.02 |

4.00% | $209,461.24 |
$150,538.76 |

4.50% | $197,361.16 |
$162,638.84 |

5.00% | $186,281.62 | $173,718.38 |

5.50% | $176,121.76 | $183,878.24 |

6.00% | $166,791.61 | $193,208.39 |

### How much house can I afford for 1100 a month?

For someone available to pay over the next 30 years $1,100/month let’s discover how much house he can afford by certain levels of interest rates:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $297,603.37 | $98,396.63 |

2.50% | $278,395.80 | $117,604.20 |

3.00% | $260,908.32 | $135,091.68 |

3.50% | $244,964.48 |
$151,035.52 |

4.00% | $230,407.36 |
$165,592.64 |

4.50% | $217,097.27 |
$178,902.73 |

5.00% | $204,909.78 | $191,090.22 |

5.50% | $193,733.94 | $202,266.06 |

6.00% | $183,470.78 | $212,529.22 |

### How much house can I afford for 1200 a month?

For an individual available to pay over the next 30 years $1,200 per month let’s see how much house he can afford at different interest rate percents:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $324,658.22 | $107,341.78 |

2.50% | $303,704.51 | $128,295.49 |

3.00% | $284,627.26 | $147,372.74 |

3.50% | $267,233.98 |
$164,766.02 |

4.00% | $251,353.49 |
$180,646.51 |

4.50% | $236,833.39 |
$195,166.61 |

5.00% | $223,537.94 | $208,462.06 |

5.50% | $211,346.12 | $220,653.88 |

6.00% | $200,149.94 | $231,850.06 |

### How much house can I afford for 1300 a month?

For an individual willing to pay over the next 30 years $1,300 on a monthly basis, let’s estimate how much house he can afford by certain interest rates:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $351,713.07 | $116,286.93 |

2.50% | $329,013.22 | $138,986.78 |

3.00% | $308,346.20 | $159,653.80 |

3.50% | $289,503.48 |
$178,496.52 |

4.00% | $272,299.61 |
$195,700.39 |

4.50% | $256,569.51 |
$211,430.49 |

5.00% | $242,166.10 | $225,833.90 |

5.50% | $228,958.29 | $239,041.71 |

6.00% | $216,829.10 | $251,170.90 |

### How much house can I afford for 1400 a month?

For an individual able to pay over the next 30 years $1,400 on a monthly basis, let’s check out how much house he can afford considering different interest rates:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $378,767.92 | $125,232.08 |

2.50% | $354,321.93 | $149,678.07 |

3.00% | $332,065.13 | $171,934.87 |

3.50% | $311,772.98 |
$192,227.02 |

4.00% | $293,245.74 |
$210,754.26 |

4.50% | $276,305.62 |
$227,694.38 |

5.00% | $260,794.26 | $243,205.74 |

5.50% | $246,570.47 | $257,429.53 |

6.00% | $233,508.26 | $270,491.74 |

### How much house can I afford for 1500 a month?

For an individual available to pay over the next 30 years $1,500 per month let’s calculate how much house he can afford at different interest percentages:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $405,822.77 | $134,177.23 |

2.50% | $379,630.64 | $160,369.36 |

3.00% | $355,784.07 | $184,215.93 |

3.50% | $334,042.48 |
$205,957.52 |

4.00% | $314,191.86 |
$225,808.14 |

4.50% | $296,041.74 |
$243,958.26 |

5.00% | $279,422.43 | $260,577.57 |

5.50% | $264,182.64 | $275,817.36 |

6.00% | $250,187.42 | $289,812.58 |

### How much house can I afford for 1600 a month?

For someone available to payout a loan over the next 30 years by a $1,600 monthly payment, let’s figure out how much house he can afford by specific interest rates:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $432,877.63 | $143,122.37 |

2.50% | $404,939.35 | $171,060.65 |

3.00% | $379,503.01 | $196,496.99 |

3.50% | $356,311.98 |
$219,688.02 |

4.00% | $335,137.98 |
$240,862.02 |

4.50% | $315,777.85 |
$260,222.15 |

5.00% | $298,050.59 | $277,949.41 |

5.50% | $281,794.82 | $294,205.18 |

6.00% | $266,866.58 | $309,133.42 |

### How much house can I afford for 1700 a month?

For someone capable to payout a loan in 30 years with a $1,700 payment paid monthly let’s see how much house he can afford at specific borrowing interest rates:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $459,932.48 | $152,067.52 |

2.50% | $430,248.06 | $181,751.94 |

3.00% | $403,221.95 | $208,778.05 |

3.50% | $378,581.47 |
$233,418.53 |

4.00% | $356,084.11 |
$255,915.89 |

4.50% | $335,513.97 |
$276,486.03 |

5.00% | $316,678.75 | $295,321.25 |

5.50% | $299,407.00 | $312,593.00 |

6.00% | $283,545.74 | $328,454.26 |

### How much house can I afford for 1800 a month?

For someone able to payout in 30 years a loan by $1,800 monthly payment, let’s estimate how much house he can afford by specific interest rate percents:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $486,987.33 | $161,012.67 |

2.50% | $455,556.77 | $192,443.23 |

3.00% | $426,940.89 | $221,059.11 |

3.50% | $400,850.97 |
$247,149.03 |

4.00% | $377,030.23 |
$270,969.77 |

4.50% | $355,250.09 |
$292,749.91 |

5.00% | $335,306.91 | $312,693.09 |

5.50% | $317,019.17 | $330,980.83 |

6.00% | $300,224.91 | $347,775.09 |

### How much house can I afford for 1900 a month?

For someone willing to repay a loan in 30 years by regular monthly payments of $1,900 let’s figure out how much house he can afford:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $514,042.18 | $169,957.82 |

2.50% | $480,865.48 | $203,134.52 |

3.00% | $450,659.82 | $233,340.18 |

3.50% | $423,120.47 |
$260,879.53 |

4.00% | $397,976.36 |
$286,023.64 |

4.50% | $374,986.20 |
$309,013.80 |

5.00% | $353,935.07 | $330,064.93 |

5.50% | $334,631.35 | $349,368.65 |

6.00% | $316,904.07 | $367,095.93 |

### How much house can I afford for 2000 a month?

For someone willing to be deft free in 30 years by making regular monthly payments of $2,000 let’s figure out how much house he can afford:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $541,097.03 | $178,902.97 |

2.50% | $506,174.19 | $213,825.81 |

3.00% | $474,378.76 | $245,621.24 |

3.50% | $445,389.97 | $274,610.03 |

4.00% | $418,922.48 | $301,077.52 |

4.50% | $394,722.32 | $325,277.68 |

5.00% | $372,563.23 | $347,436.77 |

5.50% | $352,243.53 | $367,756.47 |

6.00% | $333,583.23 | $386,416.77 |

### How much house can I afford for 2100 a month?

For someone who negotiate to repay in 30 years a loan by making monthly payments of $2,100 let’s see below how much house he can afford:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $568,151.88 | $187,848.12 |

2.50% | $531,482.90 | $224,517.10 |

3.00% | $498,097.70 | $257,902.30 |

3.50% | $467,659.47 | $288,340.53 |

4.00% | $439,868.60 | $316,131.40 |

4.50% | $414,458.43 | $341,541.57 |

5.00% | $391,191.40 | $364,808.60 |

5.50% | $369,855.70 | $386,144.30 |

6.00% | $350,262.39 | $405,737.61 |

### How much house can I afford for 2200 a month?

For someone willing to repay a loan in 30 years by monthly payments of $2,200 let’s figure out below how much house he can afford:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $595,206.74 | $196,793.26 |

2.50% | $556,791.61 | $235,208.39 |

3.00% | $521,816.64 | $270,183.36 |

3.50% | $489,928.97 | $302,071.03 |

4.00% | $460,814.73 | $331,185.27 |

4.50% | $434,194.55 | $357,805.45 |

5.00% | $409,819.56 | $382,180.44 |

5.50% | $387,467.88 | $404,532.12 |

6.00% | $366,941.55 | $425,058.45 |

### How much house can I afford for 2300 a month?

For someone who intends to be debt free in 30 years by making monthly payments of $2,300 let’s see in the next table how much house he can afford:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $622,261.59 | $205,738.41 |

2.50% | $582,100.32 | $245,899.68 |

3.00% | $545,535.58 | $282,464.42 |

3.50% | $512,198.47 | $315,801.53 |

4.00% | $481,760.85 | $346,239.15 |

4.50% | $453,930.67 | $374,069.33 |

5.00% | $428,447.72 | $399,552.28 |

5.50% | $405,080.06 | $422,919.94 |

6.00% | $383,620.71 | $444,379.29 |

### How much house can I afford for 2400 a month?

For someone who intends to repay a mortgage in 30 years by a $2,400 monthly payment level let’s check below how much house he can afford by different interest rate given:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $649,316.44 | $214,683.56 |

2.50% | $607,409.03 | $256,590.97 |

3.00% | $569,254.52 | $294,745.48 |

3.50% | $534,467.96 | $329,532.04 |

4.00% | $502,706.98 | $361,293.02 |

4.50% | $473,666.78 | $390,333.22 |

5.00% | $447,075.88 | $416,924.12 |

5.50% | $422,692.23 | $441,307.77 |

6.00% | $400,299.87 | $463,700.13 |

### How much house can I afford for 2500 a month?

For someone who intends to take a loan for 30 years and repay by a monthly payment of $2,500 let’s discover below how much house he can afford:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $676,371.29 | $223,628.71 |

2.50% | $632,717.73 | $267,282.27 |

3.00% | $592,973.45 | $307,026.55 |

3.50% | $556,737.46 | $343,262.54 |

4.00% | $523,653.10 | $376,346.90 |

4.50% | $493,402.90 | $406,597.10 |

5.00% | $465,704.04 | $434,295.96 |

5.50% | $440,304.41 | $459,695.59 |

6.00% | $416,979.04 | $483,020.96 |

### How much house can I afford for 2600 a month?

For someone willing to take a loan for 30 years and pay back by a monthly payment of $2,600 let’s estimate how much house he can afford by taking account of different interest levels:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $703,426.14 | $232,573.86 |

2.50% | $658,026.44 | $277,973.56 |

3.00% | $616,692.39 | $319,307.61 |

3.50% | $579,006.96 | $356,993.04 |

4.00% | $544,599.23 | $391,400.77 |

4.50% | $513,139.01 | $422,860.99 |

5.00% | $484,332.20 | $451,667.80 |

5.50% | $457,916.58 | $478,083.42 |

6.00% | $433,658.20 | $502,341.80 |

### How much house can I afford for 2700 a month?

For someone who intends to take a loan for 30 years and payoff by a $2,700monthly payment let’s figure out how much house he can afford below:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $730,480.99 | $241,519.01 |

2.50% | $683,335.15 | $288,664.85 |

3.00% | $640,411.33 | $331,588.67 |

3.50% | $601,276.46 | $370,723.54 |

4.00% | $565,545.35 | $406,454.65 |

4.50% | $532,875.13 | $439,124.87 |

5.00% | $502,960.37 | $469,039.63 |

5.50% | $475,528.76 | $496,471.24 |

6.00% | $450,337.36 | $521,662.64 |

### How much house can I afford for 2800 a month?

For someone who intends to take a 30 years mortgage and repaying by a monthly payment of $2,800 let’s figure out how much house he can afford:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $757,535.85 | $250,464.15 |

2.50% | $708,643.86 | $299,356.14 |

3.00% | $664,130.27 | $343,869.73 |

3.50% | $623,545.96 | $384,454.04 |

4.00% | $586,491.47 | $421,508.53 |

4.50% | $552,611.25 | $455,388.75 |

5.00% | $521,588.53 | $486,411.47 |

5.50% | $493,140.94 | $514,859.06 |

6.00% | $467,016.52 | $540,983.48 |

### How much house can I afford for 2900 a month?

For someone available to repay a 30 years loan by a $2,900 monthly payment let’s see below how much house he can afford by different interest quotes:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $784,590.70 | $259,409.30 |

2.50% | $733,952.57 | $310,047.43 |

3.00% | $687,849.21 | $356,150.79 |

3.50% | $645,815.46 | $398,184.54 |

4.00% | $607,437.60 | $436,562.40 |

4.50% | $572,347.36 | $471,652.64 |

5.00% | $540,216.69 | $503,783.31 |

5.50% | $510,753.11 | $533,246.89 |

6.00% | $483,695.68 | $560,304.32 |

### How much house can I afford for 3000 a month?

For someone willing to take a 30 years mortgage and repaying back by $3,000 per month, let’s figure out how much house he can afford:

Interest rate level |
You can afford to borrow |
You pay on interest |

2.00% | $811,645.55 | $268,354.45 |

2.50% | $759,261.28 | $320,738.72 |

3.00% | $711,568.14 | $368,431.86 |

3.50% | $668,084.95 | $411,915.05 |

4.00% | $628,383.72 | $451,616.28 |

4.50% | $592,083.48 | $487,916.52 |

5.00% | $558,844.85 | $521,155.15 |

5.50% | $528,365.29 | $551,634.71 |

6.00% | $500,374.84 | $579,625.16 |

## How does this mortgage affordability calculator work?

This affordability tool helps you figure out how much you can actually borrow by analyzing 2 scenarios. First one is based on your assumptions on how much you think you can pay while the 2nd what if scenario is based on the monthly payment you can afford by taking account of the desired debt to income ratio.

So, you are requested to fill in the following data:

- monthly gross income meaning your monthly salary and any other stable income you earn on each month;
- existing monthly debts if the case, meaning all the other payments you have to make as owner or co-borrower on debts such as: auto loan, other home loan you have, students or credit cards debts;
- monthly debt to income ratio (DTI) you would prefer, meaning either a level of 28% which is a safer approach or a level of 36% which is a riskier level. DTI is a percentage and represents your total "minimum" monthly debt divided by your monthly income.
- payment frequency for your mortgage meaning either monthly or bi-weekly;
- assumed term and interest rate you negotiate with the bank or credit institution.

The algorithm of this web form uses the compound interest formula and the importance of the debt to income ratio when assessing someone’s capacity to repay a mortgage within certain period of time.

## Example of a result

The two affordability scenarios displayed by this form have the scope to let you easily compare which is the optimal level of mortgage payment you can pay regularly. For instance let’s consider that someone has an income of $3,000 each month, existing debts of $500/month and wants to see how much house can him afford by assuming a regular payment of $1,000, a DTI of 36%, with an interest rate of 4% for 25 years. The results that he will get are:

**Results:**

The assumed Monthly payment that you specified you can afford to pay is higher than what you can actually afford to pay on a Monthly basis taking into account the limitations on a debt to income ratio of 36%. So you can afford to pay even more than what you specified. For more specific information please go through the Scenario 1 that presents your mortgage affordability based on your assumptions versus Scenario 2 that presents your mortgage affordability based on the monthly debt to income ratio specified.

■ Scenario 1 - Your mortgage affordability based on your assumptions

You can afford to borrow | $189,452.48 |

The interest rate assumed | 4.00% |

Your assumed Monthly payment | $1,000.00 |

Total number of payments made | 300 |

Loan term assumed | 25 years |

Total interest if paid to term | $110,547.52 |

Total paid for the loan | $300,000.00 |

■ Scenario 2 - Your mortgage affordability based on a debt to income ratio of 36.00%

You can afford to borrow | $109,882.44 |

The interest rate assumed | 4.00% |

Your Monthly payment based on 36% | $580.00 |

Total number of payments made | 300 |

Loan term assumed | 25 years |

Total interest if paid to term | $64,117.56 |

Total paid for the loan | $174,000.00 |

## How much mortgage can I afford?

Usually lenders allow a debt to income ratio between 28 and 36%, which means that your total debt monthly payment allowable cannot represent a proportion in your monthly earnings higher than the percentages mentioned.

Apart from a strict math calculation which can easily be done with this mortgage affordability calculator, when estimating how much you can actually borrow you should take into consideration the two aspects we bring into discussion within the next rows:

- Actually the question aims to answer which is the optimal level of payment you can afford in such a way to keep your family safe, to keep a balanced life standard for you and your family and even put some money aside for other unexpected or unwanted events such as health problems, job instability or for accidents. The main idea we try to define in here is that together with your lender you have to understand which is the level of the stable income you expect to have over a period between 10 to 30 years depending on the mortgage term, which are the current needs of your family and which are the potential needs of your family that may negatively impact the monthly budget you forecast.

- The criteria used by the lenders such as the credit score, eligibility or current debt to income are most likely quantitative ones, while when assessing your affordability you have to look both at these plus some qualitative. So, which are the other aspects you have to look at:

- How stable is your job and which are the perspectives over the next 10 to 30 years? This question should be treated as a whole since the perspective is critical because the mortgage rates are volatile, so unstable over such a long term and you have to ensure that the future will not only ensure you the same job, but at least the same job but better paid.

- How stable is the income or job of your spouse that may be co-borrower?

- What happens in case a health problem occurs on your side?

- What should be the regular savings level or the retirement contributions you should still be able to put aside during the loan term, in such a way to secure your family? Even though may seem surprisingly you also have to think that while paying your mortgage you have to make some savings. Your life and family do not depend only on the house but as well on other stuff such as kids education and university plans, proper health or life insurance level, proper diet and food. In other words, even though let’s assume you can afford to pay a maximum of $2,000 per month but with zero savings scenario, you have to analyze whether having a payment of $1,700 only and saving $300 per month wouldn’t be a safer approach.

02 Dec, 2014