Skip to main content

Mortgage Calculators – How Much Home Can I Afford?

One of the most important parts of buying a home is ensuring that you can afford it! We want to help you make well-informed decisions when purchasing real estate, so we’ve created a variety of mortgage calculators to help you determine how much home you can afford, whether you should rent or buy, and even a monthly mortgage payment calculator.


Home Affordability Calculator

What is the maximum mortgage amount you might qualify for? That depends on lots of factors, including the loan term, the interest rate on the loan, and your monthly expenses and other liabilities. To get started, gather information on your monthly income and monthly liabilities (items like auto loans, credit cards, student loan payments, or child support). You’ll need this information for yourself and your mortgage loan co-signer, if applicable.

Then, click the link below to enter your information and learn more about how much mortgage you may qualify to receive. While it’s not a replacement for speaking with a Howard Hanna Mortgage Services representative, it can help you understand roughly how much you might be able to afford to spend on a home.


Mortgage Payment Calculator

This online mortgage calculator helps you determine what your monthly mortgage payment might be. While the final number will ultimately depend on the home loan amount, the term (or life) of the loan, and your interest rate, which can vary based on whether you’ve selected a variable or fixed-rate mortgage, you can get a better understanding of what your monthly out-of-pocket mortgage expenses might be. While property taxes, private mortgage insurance, and other costs may add to this monthly payment, you’ll have a solid starting point.

You can use this calculator when shopping for a mortgage to see if you can afford the monthly payment. Or, if you’re just beginning your home search, you can use this calculator combined with the information from our Mortgage Affordability Calculator above to get a rough estimate of your monthly payments for various mortgage amounts and interest rates.

To get started, you’ll need to know the mortgage amount, the term of the loan, and its interest rate (or approximations of that information).


Rent vs. Buy Calculator

Determining whether to rent or buy a home is a big decision! While renting can be convenient if you plan to move frequently or are unable to buy a house in a specific location, purchasing real estate is a goal many people share. To help you make a well-informed decision, we’ve created a Rent vs. Buy Calculator, which breaks down some of the expenses involved in purchasing a home and compares it to your monthly rent.

To use this calculator, you’ll need information (or estimates) about your monthly rent, the type of mortgage you’re considering, and other costs associated with purchasing a home. We provide some rough estimates, but you can also use information from our Mortgage Affordability and Mortgage Payment calculators to help you complete this step.


NMLS# 101561 & 203917. Howard Hanna Real Estate Services is not a mortgage lender. Contact Howard Hanna Mortgage Services for mortgage products and eligibility. Offer of credit is subject to credit approval. Howard Hanna Mortgage Services is licensed by: The Pennsylvania Department of Banking and Securities; The Ohio Department of Commerce Division of Financial Institutions; The Michigan Department of Licensing and Regulatory Affairs, Office of Financial and Insurance Regulation. PA: (800) 474-4437, 1000 Gamma Drive, Pittsburgh PA 15238. OH and MI: (800) 589-1118, 6000 Parkland Blvd., Mayfield Heights, OH 44124. mortgage@howardhanna.com

Need a great agent?
We can help.

Are you pre-approved for a mortgage?