How Much House Can I Afford?

Use my affordability calculator to quickly determine the maximum home purchase price you can qualify for.

First enter the data on the left. The calculator will determine your maximum purchase price based on your income, monthly payments and down payment.

It will also tell you the factor that limits your maximum purchase price. You can change the data on the left to change the outcome of the maximum purchase price.

This calculator is an estimate but should be very close. For an exact calculation, please contact me at the numbers below.


Gross monthly household income

(income before deductions like taxes and insurance)

Monthly Payments: Loans

(car payments, student loans, other mortgages, etc.)

Monthly Payments: Revolving Credit

(such as credit cards)

Monthly Payments: Other Debt

(such as child support)

Total Amount of Monthly Bills

(Do not include current rent or monthly utility/phone bills)

Down Payment*

Minimum 5% down required. For loans with less than 5% down, please contact Mike Shore.*

Interest Rate


Loan Term

You can afford a monthly mortgage payment of up to $642.42
This will buy a home with a sale price of about $100,000

The primary factor limiting the amount of home you can afford is your income.

Housing Ratio: Based on your income, you cannot have a mortgage payment over $1,160 if your Total Debt Ratio and Down Payment allow it.

Total Debt Ratio: Based on your income, you cannot have monthly payments, including your mortgage payment, over $1,720 if your Housing Ratio and Down Payment allow it.

Down Payment: A minimum down payment of 5% is required on most mortgages.* So your $5,000 down payment means you could buy a house with a sale price around $100,000, if your Housing Ratio and Total Debt Ratio allow it.

Here is how your monthly mortgage payment is calculated on a 30 year loan at 4.5%:

Your monthly payment is $642.42 per month.

Your principal and interest is $460.42 per month.

Your estimated homeowners insurance is $80 per month.

Your estimated property taxes are $92 per month.

The Private Mortgage Insurance (PMI) cost for this loan is approximately $50 per month because of your down payment.

Have questions? Give me a call at 208-221-5855 (mobile) or 208-232-7711 ext 120 (office) or email me today!


*Zero-down mortgages may be available for some buyers. Please call Mike Shore at 208-221-5855 (mobile) or 208-232-7711 ext 120 (office) for more information.

Information provided by the calculator is an estimate based on the information that you provide. Information provided is not guaranteed and all loan products may not be available for your specific situation. If you have any questions, please give Mike Shore a call at 208-221-5855 (mobile) or 208-232-7711 ext 120 (office).