Enter your expected home price, down payment amount, and today's interest rate. Our calculator instantly shows your true monthly cost — not just the principal and interest, but taxes, insurance, and HOA fees that most calculators ignore.
The amortization table shows you exactly how much equity you're building year by year, and how much of each payment goes to interest vs. reducing your loan balance.
What is a good debt-to-income ratio for a mortgage?
Most lenders prefer a DTI below 43%. For the best rates, aim for under 36%. Calculate yours by dividing total monthly debt payments by gross monthly income.
How much house can I afford on a $100,000 salary?
A common rule is 2.5–3x your annual salary, putting you around $250,000–$300,000. At today's rates, that typically means a monthly payment of $1,600–$2,000 depending on your down payment and local taxes.
Is a 30-year or 15-year mortgage better?
A 15-year mortgage saves tens of thousands in interest and builds equity faster, but your monthly payment is significantly higher. Use the calculator above to compare both — the total interest difference often surprises first-time buyers.
What is PMI and how do I avoid it?
Private Mortgage Insurance (PMI) is required when your down payment is less than 20%. It typically costs 0.5–1.5% of the loan annually. Avoid it by putting 20% down, or choose a lender offering piggyback loans.