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How Much House Can I Afford?

Find out with our easy-to-use Mortgage Calculator!

Whether you’re shopping for a home or just curious, find out how much house you can afford with this quick & easy mortgage calculator.

Thinking about buying a home? Talk to a Home Loan Specialist!

Enter Your Information
Annual Take Home Pay:
Annual interest rate:
Down payment amount:

How to use this mortgage calculator

This calculator is intended to help estimate a monthly payment, and loan amount based on your annual take home pay, interest rate, and down payment amount. These numbers are estimates and meant only to help build a better idea of your financial situation. Other factors such as existing debt, property taxes and mortgage insurance can end up affecting what you qualify for.

If you are interested in learning your REAL number, we recommend becoming a Churchill Certified Homebuyer. Or to see how fast you can pay-off your loan, check out our Early Payments Calculator.

Mortgage Terms Glossary

Gross Annual Income:The total amound of income earned annually before taxes.

Net Annual Income: Your take-home pay, or the amount of money earned after taxes.

Private Mortgage Insurance(PMI): Insurance you'll pay each month if your down payment is less than 20% of your mortgage.

Homeowners Insurance: Protect your home and belongings with this type of insurance.

Property Taxes: The amount you'll pay depending on local tax rates and your properties estimated value.

Interest Rate: The amount you’ll pay each year to borrow the money on your home loan. In this case, the lower the interest rate percentage, the more you’ll save over the life of your loan.

Down Payment: This is the cash you pay up-front on the final price of your home before your mortgage starts.

Learn more about popular mortgage terms.