Mortgage Affordability Calculator
Start with your payment target and work backward to a realistic home price
Quick answer
Mortgage Affordability Calculator
This reverse mortgage calculator estimates the home price supported by your target monthly budget after subtracting taxes, insurance, HOA, and PMI.
Formula
Affordable Loan = Payment × ((1 + r)^n − 1) / (r × (1 + r)^n)
Payment target
Estimated affordable price
$372,212
Loan amount
$312,212
Principal + interest
$2,025/mo
Other housing costs
$475/mo
15-year affordability
$288,837
30-year affordability
$372,212
🏠Formula
Affordable Loan = Payment × ((1 + r)^n − 1) / (r × (1 + r)^n)💡How it works
This reverse mortgage calculator estimates the home price supported by your target monthly budget after subtracting taxes, insurance, HOA, and PMI.
How to use the result
Treat the number as a planning ceiling, not a lender approval. Compare it with your debt-to-income ratio, emergency fund, closing costs, and local taxes before making an offer.
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