Mortgage Qualification Calculator
Estimate how much mortgage you can qualify for based on your income, debts, down payment, and interest rate.
Published by:
isCalculator Editorial Team
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How to use this tool?
This calculator helps you estimate the maximum mortgage you may qualify for based on your income, debts, and loan terms. It uses a 36% debt-to-income (DTI) ratio limit.
- Enter Annual Income ($): Your total yearly income before taxes (e.g., 80000).
- Enter Monthly Debts ($): Your total monthly debt payments (e.g., credit cards, car loans). Use 0 if none.
- Enter Down Payment ($): The cash you plan to put down (e.g., 20000).
- Enter Annual Interest Rate (%): The yearly mortgage rate (e.g., 6.5 for 6.5%).
- Enter Loan Term (years): The mortgage length (1 to 40 years, e.g., 30).
- Click "Calculate". The result shows:
- Maximum Mortgage Amount: The highest loan plus down payment you may qualify for.
- Estimated Monthly Payment: Your monthly mortgage payment (principal & interest only).
- Debt-to-Income Ratio (DTI): Your total monthly obligations divided by income (should be ≤ 36%).
Note: All monetary values must be in US dollars. The calculator assumes a standard 36% DTI limit and does not include taxes, insurance, or PMI.
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Frequently Asked Questions
It estimates the maximum mortgage amount you may qualify for based on your income, monthly debts, down payment, interest rate, and loan term.
We use the 36% debt-to-income ratio guideline. Your total monthly housing payment (principal, interest, taxes, insurance) plus other debts should not exceed 36% of your gross monthly income.
No, it provides an estimate. Actual approval depends on lender criteria, credit score, and other factors.
