Mortgage Calculators
Mortgage Affordability Calculator
Estimate the mortgage and house price you could support from your income, existing debts and deposit, using the debt-to-income limits lenders apply.
Estimated house price you can support
$356,402
- Maximum mortgage
- $296,402
- Monthly payment at that level
- $1,825.00
- Monthly housing budget
- $2,250.00
Assumes the lender allows the debt-to-income ratio entered and that your deposit is available in cash.
How this calculator works
Housing budget = (income ÷ 12 × DTI) − existing debts; Loan = (budget − escrow) ÷ payment factor
- DTI
- the share of gross income lenders allow for total debt
- escrow
- monthly property tax and insurance
- payment factor
- the monthly payment per $1 borrowed at your rate and term
Lenders also test a front-end ratio for housing costs alone, typically 28% of gross income.
Example calculation
Illustrative example — not advice
Worked example — the mortgage affordability calculator as it loads, using the default figures below.
- 01Enter gross annual income: $90,000.
- 02Enter existing monthly debt payments: $450.
- 03Enter maximum debt-to-income: 36%.
- 04Enter deposit available: $60,000.
- 05Enter interest rate: 6.25%.
- 06Enter loan term: 30 years.
- 07Enter annual property tax: $3,600.
- 08Enter annual home insurance: $1,500.
- 09Read the estimated house price you can support from the results panel: $356,402.
Estimated house price you can support: $356,402. Maximum mortgage: $296,402. Monthly payment at that level: $1,825.00. Monthly housing budget: $2,250.00.
These figures come straight from the calculator above running on the values listed, so you can retype them and confirm every number yourself. Change any input and the results update immediately. Illustrative only — not a quote, offer or recommendation.
Important considerations
- Being approved for an amount is not the same as it being comfortable — model your own budget too.
- Credit score, employment history and the property itself all affect the final decision.
Related calculators
- Mortgage CalculatorEstimate your total monthly mortgage payment and see the amortisation schedule.
- Down Payment CalculatorDeposit required, loan needed and time to save it.
- Debt-to-Income Ratio CalculatorFront-end and back-end DTI against lender limits.
- Closing Cost CalculatorTotal cash needed to close, deposit included.
- Rent vs Buy CalculatorTotal cost of renting against buying over your time horizon.
- Mortgage Payment CalculatorPrincipal and interest payment on any home loan amount.
Terms used here
Frequently asked questions
What debt-to-income ratio do lenders use?
36% is a common conventional limit for total debt, though some programmes stretch to 43% or beyond with compensating factors.
Does the deposit change how much I can borrow?
It changes the price you can buy at rather than the loan you can service, and a larger deposit may remove mortgage insurance.
Disclaimer
Legamoney calculators are educational tools. Results are estimates based on the figures you enter and do not constitute financial, tax or legal advice.
Last reviewed 2026-08-01