Mortgage Affordability Calculator

Mortgage Affordability Calculator

So, you’ve been thinking about possibly purchasing a home. If you’ve used our mortgage payment calculator, you already have a good idea of how much your mortgage payments will be.


But is it financially feasible based on your circumstances?
Use this Mortgage Affordability Calculator to find out! Just plug in your information to the fields, and it will estimate your price point.


Once you find out what you can afford, search the MLS to see what’s available in your price range.



  • Annual Income: How much money you make each year.
  • Down Payment: Most mortgage lenders require a cash down payment of 5 percent, 10 percent or 20 percent of the sale price. Some lenders have zero-down mortgage programs.
  • Monthly Debts: How much money you owe on debts each month.
  • Program/Rate: This is how long you want to take to pay off the mortgage. With the traditional 30-year fixed rate mortgage your monthly payments are lower than they would be on a shorter term loan. A 15-year fixed-rate mortgage has higher monthly payments but allows you to repay your loan twice as fast and save a ton of interest costs compared to a 30-year loan
  • Mortgage Rate: This is the percentage of interest that you will pay to borrow the money to buy the home.
  • PMI: This stands for ‘private mortgage insurance.’ Most lenders require private mortgage insurance (PMI) for loans with loan-to-value (LTV) percentages in excess of 80% (the buyer put down less than 20% of the home’s value upon purchase). It protects lenders against loss if a borrower defaults.If you have any questions, call one of our experienced Realtors® today.

We are now offering virtual tours of any properties for our clients. Send your Capital Group agent a message and they will set it up or click the "Schedule Virtual Tour" button on our website located on each property page. We also have the capability to easily create, view, and sign contracts electronically. Our systems are easy to use and accessible from your mobile device. We are here for you!