How Much House Can I Afford?
Find your maximum home price based on income, debts, and down payment
Most popular calculator⏱ 2 min
Calculate Now →The Smartest Mortgage Calculators on the Internet
Plain English. No jargon. No surprises. Just the numbers you need to make the best decision of your life.
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Mortgage Calculators
Every tool you need in one place
Rent vs Buy Calculator
See exactly when buying beats renting and how much you'll save or lose
Shows 30-year wealth comparison⏱ 3 min
Compare Now →Monthly Payment Calculator
Calculate your exact monthly payment including taxes, insurance, and PMI
Includes all hidden costs⏱ 1 min
Calculate Now →How Much House Can I Buy?
Quick 3-question calculator to find homes in your price range instantly
Uses 28/36 rule⏱ 1 min
Find Out →Refinance Calculator
Should you refinance? See your monthly savings and break-even point
Includes break-even analysis⏱ 2 min
Analyze Now →Amortization Schedule
See exactly how much goes to principal vs interest each month for 30 years
Month-by-month breakdown⏱ 1 min
View Schedule →Home Equity Calculators
Tap into your home's value
Home Equity Loan Calculator
See how much you can borrow against your home equity and what it will cost
Includes eligibility check⏱ 2 min
Calculate Now →HELOC Calculator
Calculate draw period payments, repayment shock, and rate risk scenarios
Shows payment jump warning⏱ 3 min
Calculate Now →Not Sure Which Calculator to Use?
Answer 2 questions and we'll send you to the right one.
Where are you in your home journey?
Mortgage Terms in Plain English
No confusing jargon. Just clear explanations.
DTI (Debt-to-Income Ratio)
The percentage of your monthly income that goes to debt payments. Example: earn $6,000/month and pay $2,000 in debts = 33% DTI. Most lenders want this under 43%.
Use the calculator →LTV (Loan-to-Value)
What percentage of the home's value you're borrowing. Example: $240,000 loan on a $300,000 home = 80% LTV. Under 80% usually means no PMI.
Use the calculator →CLTV (Combined Loan-to-Value)
Total of all loans on a home divided by its value. Example: $280K mortgage + $50K equity loan on a $450K home = 73% CLTV. Lenders often cap at 85%.
Use the calculator →PMI (Private Mortgage Insurance)
Extra insurance when your down payment is less than 20%. It protects the lender, not you. On a $300K loan with 10% down, PMI costs about $150/month until you reach 20% equity.
Use the calculator →APR (Annual Percentage Rate)
The true yearly cost of your loan including interest and fees. Example: 6.5% rate with $3,000 in fees might show 6.7% APR. Compare APR when shopping lenders.
Use the calculator →Points
Upfront fees paid to lower your interest rate. One point = 1% of the loan amount. Example: 1 point on a $300K loan costs $3,000 and might drop your rate by 0.25%.
Use the calculator →Escrow
A holding account your lender uses to pay property taxes and insurance on your behalf. Example: $400/month added to your payment covers taxes and homeowners insurance.
Use the calculator →Amortization
How your loan gets paid off over time. Early payments are mostly interest; later payments are mostly principal. A 30-year loan might pay $280K in interest on a $300K loan.
Use the calculator →Pre-approval
A lender's written offer to lend you a specific amount after verifying income, credit, and assets. Example: pre-approved for $350K means sellers take your offer seriously.
Use the calculator →Pre-qualification
A rough estimate of what you might afford based on self-reported info — no verification. Less reliable than pre-approval but useful for early planning.
Use the calculator →ARM (Adjustable-Rate Mortgage)
A loan with a rate that changes after an initial fixed period. Example: 5/1 ARM = fixed for 5 years, then adjusts yearly. Payments can rise significantly.
Use the calculator →Fixed Rate
A loan where the interest rate never changes. Example: 6.5% fixed for 30 years means the same principal and interest payment every month for the life of the loan.
Use the calculator →What Makes MortgageIQ Different
| Feature | MortgageIQ | Bankrate | NerdWallet |
|---|---|---|---|
| All calculators in one place | ✓ | ✗ | ✗ |
| Plain English explanations | ✓ | ✗ | Partial |
| Zero ads cluttering results | ✓ | ✗ | ✗ |
| Guided calculator journey | ✓ | ✗ | ✗ |
| Home equity calculators | ✓ | Partial | ✗ |
| No signup required | ✓ | ✓ | ✓ |
| Shows ALL costs upfront | ✓ | Partial | Partial |
| Mobile optimized | ✓ | Partial | ✓ |
How It Works
Step 1
Pick your calculator
Choose from 8 specialized tools — affordability, refinance, HELOC, and more.
Step 2
Enter your numbers
Plain English inputs with helpful tooltips on every field — no jargon.
Step 3
Get your answer
Clear results with charts, breakdowns, and smart recommendations for what to do next.
Frequently Asked Questions
What credit score do I need to buy a house?▾
Most conventional loans require at least 620, but 740+ gets the best rates. FHA loans accept scores as low as 580 with 3.5% down. Our affordability calculator factors credit score into your estimated rate and payment.
How much should I put down on a house?▾
20% down avoids PMI, but many buyers put down 3–10%. A larger down payment lowers your monthly payment and increases what you can afford. Our calculators let you toggle between dollar amount and percentage.
What is the current mortgage rate?▾
Average 30-year fixed rates hover around 7% in 2026, varying by credit score and loan type. Our calculators default to current market averages and let you adjust the rate to see how it affects your payment.
How do I calculate my monthly mortgage payment?▾
Monthly payment = principal + interest + property taxes + insurance + PMI + HOA. Use our Monthly Payment Calculator for an exact breakdown, or the Affordability Calculator to see payments for homes in your budget.
What is PMI and how do I avoid it?▾
PMI (Private Mortgage Insurance) is required when you put less than 20% down. It costs roughly $30–$70 per $100,000 borrowed. Put 20% down, use a piggyback loan, or reach 20% equity to remove it.
Is it better to rent or buy right now in 2026?▾
It depends on how long you'll stay, local home prices, and rent costs. Buying usually wins after 5–7 years. Our Rent vs Buy Calculator models your exact scenario with break-even analysis.
How much house can I afford on a $100,000 salary?▾
On $100K income with typical debt and 20% down, you can generally afford $350K–$450K depending on rates and location. Use our Affordability Calculator with your exact numbers for a personalized range.
When should I refinance my mortgage?▾
Refinance when you can lower your rate by at least 0.5–1% and plan to stay long enough to recoup closing costs. Our Refinance Calculator shows monthly savings, break-even months, and total interest saved.
What is a HELOC and how does it work?▾
A HELOC is a revolving credit line secured by your home. During the draw period (typically 10 years) you pay interest only. Then it converts to principal + interest payments. Our HELOC Calculator models both phases.
How much home equity do I need for a home equity loan?▾
Most lenders require at least 15–20% equity after the new loan. You can typically borrow up to 85% of your home's value minus your mortgage. Our Home Equity Loan Calculator checks eligibility instantly.
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