What You'll Actually Pay

This house affordability calculator turns a home price into the full monthly picture: principal and interest via the standard mortgage formula, plus property tax, insurance, and PMI when the down payment is under 20%. The debt ratios then show how the payment fits your income.

The Mortgage Formula

Monthly payment = P × r(1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan, r the monthly rate, and n the number of payments. Over a 30-year term, the interest component dwarfs principal early on — that is why the total-interest figure matters.

Interpreting the Ratios

A front ratio under 28% and back ratio under 36% signals a comfortable fit to most lenders. If yours exceed those lines, a larger down payment, lower price, or longer term brings them back into range.