How Much Home Can You Afford? Use Your Rent Payments to Estimate the Equivalent Mortgage


Rental Mortgage Affordability Calculator

Are you currently renting but considering buying a home? This calculator estimates what sized mortgage you can afford based upon the downpayment you have set aside & what you are currently paying for rent. This calculator includes property taxes & insurance, but does not include any monthly HOA fees or PMI payments if those are required. Typically PMI ranges between 0.3% and 1.2% of the loan amount annually for those who put less than 20% down on a conforming mortgage. Those with higher downpayments obtain lower the PMI rates, with PMI at 0% with 20% down.

Monthly rent payment:
Interest Rate (APR %):
Loan Term (years):
Annual property taxes:
Enter the anticipated annual insurance:
Down Payment % Maximum Loan Downpayment Max Home Price
0% (requires PMI)
5% (requires PMI)
10% (requires PMI)
15% (requires PMI)


House in the Woods.

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