Mortgage qualification calculator
Found a home you like? Check whether your income, debts and down payment fit the limits lenders use for its price.
Can you qualify for this home?
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Enter the price, your down payment and your income to check this home.
| Yours | Lender limit | |
|---|---|---|
| Housing costs | — | 39% |
| All debts | — | 44% |
As a share of your income before tax.
- Mortgage amount
- —
- Monthly payment
- —
This calculator provides a general estimate of whether a home may fit lender limits. Actual mortgage approval depends on lender requirements, income verification, debts, credit, property details and other factors. It uses the federal stress test and the limits most lenders apply: 39% of your income for housing costs and 44% for all your debts.
Mortgage qualification questions
How is this different from the affordability calculator?
The affordability calculator starts with your income and finds a price range. This one starts with a home you’ve found and checks whether your numbers fit its price.
What limits do lenders check?
Two. Your housing costs, meaning the mortgage payment, property tax, heating and half of any condo fees, should stay within 39% of your income before tax. Those costs plus your other debt payments should stay within 44%.
Why is my payment tested at a higher rate?
Lenders have to check that you could still make your payments if rates rose. Under the federal stress test, they qualify you at your rate plus 2% or at 5.25%, whichever is higher. Your actual payments are still based on your own rate.
What if the result says “Over the limits”?
It’s a starting point, not a final answer. A larger down payment, a paid-down balance or a co-applicant’s income can change the result. Tell me what you entered, and we’ll go through your options together.
Does “Within limits” mean I’m approved?
No. It means your numbers are within the limits most lenders use. Approval also depends on your credit, how your income is verified, the property and each lender’s own rules. A pre-approval is the next step, and I can help you get one.
Where do I find the property tax?
Most listings show last year’s property taxes. If yours doesn’t, leave the field blank and the calculator estimates it from Norfolk County’s residential rate.
Let’s look at this home together
Send me the listing and the numbers you entered, and I’ll show you how lenders are likely to see it.
A first conversation costs nothing and commits you to nothing.