Calculator

Home Affordability Calculator

Estimate a realistic property budget from income, equity, monthly payment, interest and closing costs.

Inputs

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Display currencyChoose the currency symbol for entered amounts and results. No exchange-rate conversion is applied.

UnitsChoose metric, US or UK units for distance, area, volume and car consumption.

Monthly net income ($)

Enter the value for “Monthly net income”. The closer the assumption is to your real situation, the more useful the result will be.

Existing monthly debt payments ($)

Enter the value for “Existing monthly debt payments”. The closer the assumption is to your real situation, the more useful the result will be.

Equity / down payment ($)

Enter the value for “Equity / down payment”. The closer the assumption is to your real situation, the more useful the result will be.

Maximum housing share (%)

Enter the value for “Maximum housing share”. The closer the assumption is to your real situation, the more useful the result will be.

Interest rate p.a. (%)

Enter the value for “Interest rate p.a.”. The closer the assumption is to your real situation, the more useful the result will be.

Initial amortization p.a. (%)

Enter the value for “Initial amortization p.a.”. The closer the assumption is to your real situation, the more useful the result will be.

Closing costs (%)

Enter the value for “Closing costs”. The closer the assumption is to your real situation, the more useful the result will be.

FAQ

How much income should go to the payment?

Many households use roughly 30–40% of net income, but a safety buffer is important.

Why are closing costs important?

Closing costs usually need to be paid from cash. They increase the cash requirement and reduce the realistic purchase budget.

What happens if interest rates rise?

A higher interest rate lowers the possible loan amount at the same monthly payment. Always test several interest scenarios.

Is equity only for closing costs enough?

It may work, but it is riskier. More equity lowers the loan amount, interest risk and monthly burden.

Does this replace a financing approval?

No. It is a planning tool with simplified assumptions. A bank checks income, creditworthiness, property, equity and terms individually.