Mortgage Calculator

How much home can you actually afford?

Answer a few questions and get a real, math-based estimate - not a rough guess. Adjust any number and your results update instantly.

Your Numbers

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Your total income before taxes - salary, wages, or self-employment income. If you have a co-borrower, include both incomes combined.
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Car loans, credit card minimums, student loans, and other loan payments - not rent, utilities, or everyday spending. Lenders count this against your income.
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How much cash you'll put down at closing. Many programs allow as little as 3-3.5% down - you don't need 20%.
A 30-year loan has lower monthly payments spread over more time. A 15-year loan pays off faster and usually has a lower rate, but a higher monthly payment.
6.5%
An estimate for calculation purposes - your actual rate depends on credit, loan program, and current market conditions. We'll confirm your real rate during pre-qualification.
43%
The share of your gross monthly income lenders allow to go toward your mortgage plus all other debts. 43% is a common ceiling for many loan programs, though some allow more or less depending on the program and your overall profile.
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Property taxes on Long Island vary significantly by township. Enter your best estimate of the annual property tax bill for the area you're considering - or ask your loan officer for a more precise number.
An estimated annual homeowner's insurance premium. Actual cost depends on the home's value, age, location, and coverage.
You Can Likely Afford Up To
$429,000
Loan amount: $379,000 + $50,000 down
Principal & Interest$2,397
Property Tax (est.)$626
Home Insurance (est.)$150
Est. Monthly Payment$3,173
Debt-to-Income Used43%
Get Pre-Qualified Call (631) 851-4420

This is an estimate for planning purposes, not a loan offer or pre-qualification. Talk to a Coltrain loan officer for your exact numbers.

How This Works

What actually goes into this number

Debt-to-Income Ratio (DTI)

Lenders compare your total monthly debt (including your future mortgage) to your gross monthly income. Most programs cap this around 43%, though it varies. This ratio, more than anything else, sets your ceiling.

PITI: The Real Monthly Cost

Your payment isn't just Principal & Interest - it's P.I.T.I.: Principal, Interest, Taxes, and Insurance, all bundled into one monthly number your lender actually qualifies you against.

Why Property Taxes Matter So Much

On Long Island, property taxes can add hundreds of dollars a month and swing your affordable price significantly. Getting your township's real rate matters more here than in most of the country.

Common Questions

Affordability calculator, explained

Is this the same as a pre-qualification?+

No. This calculator gives you a planning estimate based on the numbers you enter. A real pre-qualification involves verifying your income, credit, and assets, and gives you an actual number you can make offers with.

Why does my property tax rate matter so much?+

Because it's a recurring cost baked into every monthly payment, unlike a one-time closing cost. On Long Island specifically, tax rates vary a lot by township, so a rough areawide estimate can be meaningfully off from your actual town's rate.

What if my debt-to-income ratio needs to be different?+

Different loan programs allow different DTI ceilings, and a strong credit profile or extra reserves can sometimes support a higher ratio. Adjust the slider to see how it changes your number, then confirm your real limit with a loan officer.

Does this include PMI or mortgage insurance?+

Not in this estimate. If your down payment is under 20% on a Conventional loan, or you're using an FHA loan, mortgage insurance will add to your actual monthly payment. Ask your loan officer to include this for a more precise number.

Ready When You Are

Turn this estimate into a real pre-qualification.

No pressure, no obligation - just a clear, verified number from a local loan officer.

Get Pre-Qualified Call Coltrain Mortgage