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Buying

Affordability

What price can this income and this down payment actually carry?

Illustrative example only — not a rate quote, not an APR offer, and not a commitment to lend.

Your inputs

Before tax, and everyone who will be on the loan.

Car notes, student loans, minimum card payments, child support. Not groceries, not utilities.

Down payment only. Closing costs are not modeled on this page.

Of the price, per year. Colorado runs low by national standards.

Charged only while the loan is above 80% of the value.

Housing payment as a share of gross income.

Housing plus every other monthly debt, as a share of gross income.

A price these numbers can carry

$471,000

Solved backwards from a housing budget of $3,190 a month, with the tax, insurance, HOA and mortgage insurance all moving as the price moves. An illustration produced by the inputs on this page — not an approval, not a pre-approval, and not a commitment to lend.

The back-end ratio is what limits you here, not the down payment. Everything you owe each month is counted against the same 36% ceiling, so the housing budget is $3,190 rather than the $3,220 the housing-only ratio would have allowed. Retiring a debt moves this number more than a bigger down payment does.

$3,190Housing budgetThe lower of $3,220 and $3,190.
$406,000Loan at that priceInterest over the term comes to $517,831.
13.8%What the cash buys$65,000 against a $471,000 price.
$3,187Full PITI at that priceMortgage insurance ends around payment 84.

What the budget is spent on

The whole housing budget, split into the pieces a lender actually counts. Widths are to scale, and every figure is repeated in the list below in words and numbers, so nothing here depends on telling colors apart.

Principal & interest$2,566
Property tax$216
Insurance$150
Mortgage insurance$210
HOA$45
Total$3,187

How far the price moves when the rate moves

The same income, the same debts and the same cash, priced at every rate two points either side of the one you typed. The dashed marker is your rate. A single point of rate is worth far more price than most people expect — which is why a rate you cannot control decides more of this answer than anything you can.

Affordable price at that rate

Read it as a shape, not as a forecast. Nothing on this page predicts where rates go, and the rate in the box is whatever you typed there.

The loan that price implies

Every payment on the loan above, with a running interest total in the last column. Taxes, insurance, HOA and mortgage insurance are not in this table — they are in the payment, not in the loan. Figures are illustrative.

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What this page assumes

  • Lenders' real ratios vary by program and by compensating factors. Conventional underwriting routinely goes past 36% on the back end, FHA further still, and a strong reserve position or credit profile can stretch either ceiling — while a weak one can pull both in. The two percentages on this page are inputs precisely because there is no single correct pair.
  • Nothing here uses a credit score, and nothing here checks one. Score drives the rate you would actually be offered and sometimes the ratios themselves, so a real answer starts where this page stops.
  • This is not an approval, a pre-approval, a pre-qualification or a commitment to lend. It is arithmetic run on numbers you typed.
  • Income is taken as stable and fully documentable. Self-employment, bonus, commission and rental income are averaged and haircut in ways no calculator can guess.
  • The cash figure is treated as down payment only. Closing costs, prepaids and reserves are not modeled and would reduce what is left for the down payment.
  • Property tax is a flat percentage of the purchase price and is never reassessed; insurance and HOA dues are held flat for the whole term. All three move in practice.
  • Mortgage insurance is charged while the loan is above 80% of the price and stops at 78% — roughly how conventional PMI cancellation works. FHA and VA are different and have their own pages.
  • Every figure on this page is an illustration produced by your inputs. This site is a demonstration for a fictional lender that cannot lend.

Take this result with you

The address bar already holds every input on this page. Copy it and the result reopens exactly as you left it.

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Email it to yourself

Demonstration only. This form checks the address and shows you the confirmation a real one would show. It sends nothing, stores nothing and transmits nothing — there is no server behind this site. Use the mail-app button if you actually want the link.

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Talk it through

Send the numbers to a person

On a live site this is where the arithmetic on the affordability calculator turns into a conversation. A loan officer would get what you enter here, along with the inputs already in the link.

This form is a demonstration and does not send anything. There is no server, no database and no third-party form service behind this page. Nothing you type is stored, transmitted or logged, and nobody will call you. If you want to see how the real thing would behave, fill it in — it validates properly and shows the confirmation.

A real enquiry would go to (720) 555-0139 or[email protected] — both invented for this demonstration.