Mortgage Affordability Calculator

Planning your mortgage affordability is just one of the steps needed to ensure that you’ve covered your ground and are on the path towards financial security. You may use the calculator below to determine your monthly mortgage affordability.

Annual Incomes

Monthly Expenses

Mortgage Info

Additional Housing Costs

What Can I Afford?

Your affordability scenario

Based on the information you provided, a house at this price should fit within your budget.


Max. Home Price


Max Monthly Mortgage Payment

Monthly Mortgage
Interest Rate
Loan Amount
Mortgage Term
5 Years
Payment Frequency
Amortization Period
25 Years
No. of Payments

Mortgage Default Insurance

Max Mortgage + Mortgage Default Insurance
Max Mortgage Payment after Mortgage Default Insurance

Estimated Monthly Expenses


Total Estimated Monthly Expenses

Monthly Mortgage Payment
Monthly Expenses
Additional Housing Expenses

To use the Mortgage Affordability Calculator, please input the following information to measure your mortgage affordability:

  • Your pre-tax annual income (and the pre-tax annual income of your Co-Applicant if applicable.)
  • Debt payments (Credit Cards, Car Loans, and other loan expenses)
  • Living Costs (property tax, condo fees and heating costs, although these can be estimated for you if you select the “Estimate for me” option

Once you’ve entered the required information, simply click on the “How much can I afford?” button to the bottom right of the calculator and it will present you with detailed insights on your mortgage affordability. The results will show you affordability at different interest rates, your estimated amortization schedule detailing the totals over time.

The Mortgage Affordability Calculator will provide you a thorough breakdown of your potential costs and expenses giving you insights on what to expect when you are shopping for a home. If you are keen on purchasing your home, click on the “Get Started” button at the bottom of this page to be connected with a dedicated 8Twelve Mortgage strategist who can help you with any questions you may have, or shop around for you for the best rates. We pride ourselves on providing the utmost value for our clients.