SunBeltPulse

Mortgage Affordability Calculator

Estimate your monthly payment, total cost of ownership, and whether a home fits within the 28/36 affordability rule. Numbers update as you type.

Loan details

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$80,000

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$4,400 / year

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$

Used for the 28/36 affordability check

Total monthly cost

$2,512

Principal + interest + taxes + insurance + HOA

Principal & interest$1,995
Property tax$367
Home insurance$150
HOA$0

Loan summary

Down payment$80,000
Loan amount$320,000
Total interest paid$398,321
Total cost of loan$718,321

Affordability

Comfortably within the 28% front-end ratio

Housing-to-income ratio25.1%
Monthly income$10,000
Monthly housing cost$2,512

How the calculations work

Principal & interest uses the standard amortisation formulaM = P · r(1+r)n / ((1+r)n−1)where P is the loan amount, r is the monthly rate, and n is the number of monthly payments.

Affordability rule: lenders typically look for a front-end ratio (housing cost ÷ gross income) at or below 28%, and a back-end ratio (total debt ÷ gross income) at or below 36%. This calculator checks the front-end ratio only; you would layer on other debt payments for a full underwriting view.

Not financial advice. Actual rates, taxes, and insurance vary by lender, market, and property. Use this as a first-pass estimate and confirm specific figures with a lender and insurance broker.