Calculator 03 · illustrative
What can I actually afford?
Income and existing debts against two ratios. It names which of the two is binding, which is the part most calculators leave out.
A defensible ceiling
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Which constraint binds
Housing ratio cap—
Total debt cap, less existing debts—
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What a different down payment does
| Cash down | Max price | Loan | LTV | Monthly |
|---|
More cash down does not simply buy more house: past 20% the mortgage insurance falls away, and below that the extra down mostly trades against the same monthly ceiling.
Illustrative only. No rate on this page is available anywhere and no result is a quote, an approval or a commitment. Defaults are round numbers chosen so the arithmetic is legible, not figures anybody is offering. Taxes, insurance, association dues and mortgage insurance vary enormously between towns, buildings and lenders.
Assumptions on this page: mortgage insurance of 0.55% of the loan per year above 80% loan-to-value, taxes as a flat percentage of price, and the two ratios you set. Real underwriting also weighs credit score, reserves, employment history, the property type and the specific program — two lenders can reach different answers from the same file. Automated underwriting frequently allows higher ratios than the ones defaulted here.
Every calculation happens in your browser. Nothing is uploaded, stored or transmitted. What is fictional on this site.
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Numbers are a start, not an answer
If a figure on this page surprised you, that is usually worth twenty-five minutes on the phone.
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