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Mortgage Affordability Calculator

Calculate mortgage affordability from income, debts, rate, term, and deposit assumptions.

Last reviewed: August 26, 2026
Cost: Free to use
Data: Runs in your browser
Reviewed by: Anton Jonson

Mortgage Affordability Calculator

Gross Monthly Income

Monthly Debts

Annual Interest Rate (%)

Loan Term Years

Deposit Percent (%)

Max Monthly Payment1740.00

Max Loan Amount290217.41

Max Property Value362771.76

Methodology

How this calculator handles inputs

This calculator uses the values you enter above and applies the formula explained in the guide below. Results update in the browser and are intended for quick planning, comparison, and sanity-checking.

Use consistent periods, currencies, and units across inputs.
Review any assumptions before using the result in a decision.
Recalculate when rates, prices, tax rules, or business terms change.

Important note

This tool provides general planning information only. It is not tax, legal, financial, accounting, or investment advice. Check the current rules for your location and speak with a qualified professional before making a high-stakes decision.

Guide

How it works

Use this calculator to estimate how much mortgage you may be able to afford.

What this calculator does

The mortgage affordability calculator estimates maximum monthly payment, maximum loan amount, and maximum property value.

It uses:

gross monthly income
monthly debts
annual interest rate
loan term
deposit percentage

Mortgage Affordability Formula

Max Monthly Payment = Gross Monthly Income x 28% - Monthly Debts

The calculator then converts that payment into an estimated loan amount.

Example calculation

If gross monthly income is 8,000, monthly debts are 500, and the mortgage rate is 6%, the calculator estimates the maximum loan and home value.