Start with the payment your income and current monthly debts may support, then work backward into an estimated home price using real-time mortgage-rate data, your credit score, down payment, taxes, insurance and mortgage insurance.
Estimate your buying power using your income, debt, credit, down payment and current mortgage-rate data. No contact information is required to calculate.
Planning tool only. Mortgage qualification is lender-specific. This calculator intentionally uses a simplified set of assumptions so you can estimate buying power before getting a full preapproval.
Use gross household income before taxes. For monthly debt, include recurring obligations that appear on your credit report such as auto loans, student loans, minimum credit-card payments and other installment debt.
* This calculator provides a rough, educational estimate only. It is not a loan estimate, pre-qualification, or pre-approval, and it is not a commitment to lend. Figures shown are based on the information you enter and general assumptions about interest rate, property tax, homeowners insurance and mortgage insurance — actual costs vary by property, county and loan program. A real pre-approval requires a full review of your credit, income, assets and the property, and is subject to underwriting approval.
Jordan Lee Mortgage is a licensed dba of Mortgage Trust, Inc. in Idaho and Oregon. In California, Colorado, Connecticut, Montana, New Mexico, and Washington, Jordan Lee (NMLS 1440237) is licensed and does business as Mortgage Trust, Inc. In Florida, Minnesota, North Carolina, South Dakota, Texas, and Utah, Jordan Lee (NMLS 1440237) is licensed and does business as Mortgage T, Inc.
This tool is for informational purposes only and is not a commitment to lend. Terms and conditions of programs, products and services are subject to change or termination without notice. All loans are subject to credit and property approval. Certain restrictions may apply on all programs. Rates, APR and payment estimates shown are illustrative only; the actual rate and terms available to you will depend on your credit history, down payment, loan program and other factors. Please consult a licensed loan originator for exact figures.
NMLS Consumer Access · Mortgage Trust, Inc. | NMLS 3250 · 4386 S Macadam Ave. Suite 302, Portland, OR 97239 · 503.488.1800
The calculator works backward from a simplified maximum monthly housing payment instead of pretending principal and interest are the only costs of owning the home.
For estimated base loan amounts at or below the current one-unit conforming limit, credit scores of 720 or higher use a 50% maximum total debt ratio and scores below 720 use 45%. Once the estimated base loan exceeds the conforming limit, the calculator switches to a 45% maximum DTI for jumbo financing.
Your recurring monthly obligations come out of that maximum debt allowance. What remains is the estimated housing-payment budget.
The estimate includes principal and interest, taxes, homeowners insurance, mortgage insurance when applicable, and any HOA amount you enter.
The calculator tests purchase prices until the estimated monthly housing payment fits inside the available monthly budget.
At a 50% debt ratio, the maximum total monthly debt is $500. Subtract $75 of existing debt and the estimated housing-payment allowance is $425 per month.
With less than 20% down and an estimated base loan within the conforming limit, the calculator uses the existing FHA-style assumption for credit scores at 720 or below: the selected conforming FICO/LTV rate minus 0.375 percentage points, 1.75% upfront mortgage insurance financed into the principal-and-interest calculation, and 0.55% annual monthly mortgage insurance. Estimated base loan amounts above the conforming limit switch to the jumbo rate and 45% maximum DTI instead.
With less than 20% down, the calculator uses simplified conventional mortgage-insurance tiers. A down payment between tiers rounds down to the lower bucket.
The calculator estimates these together at 1.45% of the purchase price annually, divided by 12. On a $400,000 home that is about $483.33 per month.
The calculator itself reads the site's stored Optimal Blue/FRED mortgage-rate data. The widget below provides additional market context and historical movement.
A lender may use different debt-ratio limits, rate pricing, mortgage-insurance pricing, tax estimates, insurance quotes, loan programs, reserve requirements and credit-history rules. The property itself can also change the final payment.
Use recurring obligations that are generally included in mortgage underwriting, such as auto loans, student loans, minimum credit-card payments, personal loans and other installment obligations. A lender can tell you exactly which liabilities count in your situation.
No. Qualification and comfort are different questions. Your own budget should also account for utilities, maintenance, savings goals, childcare, travel, lifestyle spending and the cash reserves you want after closing.
The calculator uses the current one-unit baseline conforming loan limit. For 2026, that limit is $832,750. An estimated base loan above that amount is treated as jumbo, uses the real-time 30-year jumbo rate, and uses a 45% maximum debt-to-income ratio.
The principal-and-interest calculation uses a 30-year amortization. Conforming estimates use 30-year FICO/LTV mortgage indices; jumbo estimates use the 30-year jumbo mortgage index from the same real-time rate dataset.
Potentially, but the effect depends on the program. Assistance can change cash to close, loan structure, rate, monthly payment or resale restrictions. Review the down payment assistance guide separately instead of assuming the full assistance amount simply adds to the purchase price.
A calculator is useful for setting a range. The next step is comparing the payment, cash to close, loan options and homes available at that price point so you know what the number means in the real market.
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Jordan Lee · NMLS 1440237 · Mortgage Trust, Inc. / Mortgage T, Inc. where applicable
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