Estimated Results
Estimated Home Purchase Price: —
Estimated Maximum Loan Amount: —
Down Payment: —
Monthly Principal & Interest: —
Monthly Property Tax: —
Monthly Homeowners Insurance: —
Estimated Total Monthly Payment (Includes HOA; Excludes Mortgage Insurance): —
How the Estimate Is Calculated
This calculator uses these planning assumptions:
- 28% housing ratio: Monthly housing costs are limited to 28% of gross monthly income.
- 36% total debt ratio: Housing costs plus other monthly debt payments are limited to 36% of gross monthly income.
The lower housing budget is used. Property tax, homeowners insurance, and HOA fees are subtracted before calculating the loan amount supported by the remaining principal and interest budget.
The estimate assumes a fixed-rate, fully amortizing loan. These ratios are planning assumptions, not approval requirements. Actual eligibility depends on the loan program and lender review.
Mortgage insurance, program fees, closing costs, and reserves are excluded. Enter down payment cash after setting aside funds for these costs. Taxes, insurance, and HOA amounts are treated as fixed monthly estimates.
If no principal and interest budget remains, the calculator shows $0 for the loan and no financed purchase price. This is an estimate, not a loan approval.