## What is affordability calculator Zillow?

Affordability Calculator Use Zillow’s affordability calculator to estimate a comfortable mortgage amount based on your current budget. Enter details about your income, down payment and monthly debts to determine how much to spend on a house.

## What should my mortgage payment and debt to income ratio be?

Your mortgage payment should be 28% or less. Your debt-to-income ratio (DTI) should be 36% or less. Your housing expenses should be 29% or less. This is for things like insurance, taxes, maintenance, and repairs.

## How do you calculate affordability for a mortgage?

Key factors in calculating affordability are 1) your monthly income; 2) available funds to cover your down payment and closing costs; 3) your monthly expenses; 4) your credit profile. Income – Money that you receive on a regular basis, such as your salary or income from investments.

## How much should I earn to afford a mortgage?

If you earn $5,500 a month and have $500 in existing debt payments, your monthly mortgage payment for your house shouldn’t exceed $1,480. Key factors in calculating affordability are 1) your monthly income; 2) available funds to cover your down payment and closing costs; 3) your monthly expenses; 4) your credit profile.