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Home Affordability Calculator
Estimate an affordable home price from your monthly payment budget, down payment, mortgage rate, and term.
- Estimated home price
- 300,187.42
- Affordable loan amount
- 250,187.42
How the calculation works
Affordable loan = payment budget / payment per unit borrowed. Home price = loan + down payment.
Inputs
- Monthly principal and interest budget
- Available down payment
- Annual interest rate, %
- Term, months
Calculation details
A fixed nominal annual rate is divided by 12. Payments are at month end; daily accrual and intermediate rounding are not modeled.
Enter fees separately where provided. Insurance, penalties, and taxes are not included in the interest rate.
Enter the payment budget after reserving property taxes, insurance, and maintenance. This estimates a budget, not lender approval.
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Updated: 2026-10-02