Affordability Calculator

Use this calculator to determine how much house you can afford. By entering details about your income, down payment, and monthly debts, you can estimate the mortgage amount that works with your budget.
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You can afford a home up to: $0
Your debt-to-income ratio is 36%
Quite affordable.
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Affordability Help

Annual Income

This is the combined annual income for you and your co-borrower. Include all income before taxes, including base salary, commissions, bonuses, overtime, tips, rental income, investment income, alimony, child support, etc.

Down Payment

The typical rule of thumb is to pay 20 percent of the home's price as your down payment, although some mortgage loans require as little as 3.5 percent down. Your down payment reduces the total amount of your mortgage loan, so the more money you put down, the lower your payments will be - or the more expensive a house you can buy.

Other Monthly Debts

Include all monthly debt payments for of you and your co-borrower, including: minimum monthly required credit card payments, car payments, student loan payments, alimony/child support payments, any house payments (rent or mortgage) other than the new mortgage you are seeking, rental property maintenance, and other personal loans with periodic payments.

Do NOT include: credit card balances you pay off in full each month, existing house payments (rent or mortgage) that will become obsolete as a result of the new mortgage you're seeking, or the new mortgage you're seeking.

Loan Term

Your loan program can affect your interest rate and monthly payments. Choose from 30-year fixed, 15-year fixed, and more in the calculator.

Loan Type

There are several types of mortgage loans, but the most commonly used are fixed-rate and adjustable-rate loans. Fixed-rate loans have the same interest rate for the entire duration of the loan. That means your monthly payment will be the same, even for long-term loans, such as 30-year fixed-rate mortgages. Two benefits to this loan type are stability, and being able to calculate your total interest up front. Adjustable-rate mortgages (ARMs) have interest rates that can change over time. Typically they start out at a lower interest rate than a fixed-rate loan, and hold that rate for a set number of years, before changing interest rates from year to year. For example, if you have a 5/1 ARM, you will have the same interest rate for the first 5 years, and then your interest rate will change from year to year. The main benefit of an adjustable-rate loan is starting off with a lower interest rate.

Interest Rate

This field is pre-filled with the current average mortgage rate. Your actual rate will vary based on factors like credit score and down payment.

Property Tax

The mortgage payment calculator includes estimated property taxes based on the home's value. You can edit this in the advanced options.

Home Insurance

Home insurance or homeowners insurance is typically required by lenders, depending on the loan program. You can edit this number in the mortgage calculator advanced options.

HOA Fees

A homeowners association fee (HOA fee) is an amount of money that must be paid monthly by owners of certain types of residential properties, and HOAs collect these fees to assist with maintaining and improving properties in the association.

Debt-to-Income (DTI)

Your DTI is expressed as a percentage and is your total "minimum" monthly debt divided by your gross monthly income. The conventional limit for DTI is 36% of your monthly income, but this could be as high as 41% for FHA loans. A DTI of 20% or below is considered excellent.

Hear From My Clients

Abi and John

Marika was excellent to work with when purchasing our first house! She made the process easy from beginning to end and went out of her way to accommodate our busy schedules. Marika was extremely honest and upfront about the houses we saw, which we greatly appreciated since we were purchasing our first home, new to Portland, and trying to find a home in a seller’s market. We especially appreciated her knowledge of seemingly every street, neighborhood, and block in the city. She was always easy to reach and answered all of our questions. We highly recommend Marika to anyone who is looking to buy or sell a home!

Ira and Emily

Buying a house is a complicated piece of business, especially when you live 3,000 miles away, as my wife and I do. Marika made it all happen. Of course, she brought her deep knowledge and experience to bear in helping us every step of the way, both when we were in town to look at places and back home in Boston when we wondering how we could make such a long-distance purchase happen. But beyond realtor experience, she brought a warm, friendly, emotionally intelligent touch to our business relationship as she learned not just what kind of place or neighborhood we wanted but also who we are as people. This allowed her to shape our search and fit it into our limited schedule. She was patient, helpful, practical in her advice, and always available to us from the start and continuing beyond the closing date and moving in. None of these positives surprised us, though, because Marika was also the realtor who walked my son a few years ago through all of the steps of first-time home buying in Portland. We wouldn’t hesitate to recommend her to anyone in the housing market.

J and C

Marika Feibel was fantastic in helping us find our “forever home”. We assumed purchasing in the current real estate market was going to be difficult especially given our unique desires in the home we dreamed about. As houses came and went, Marika remained a rock in the process. She never made us feel pressured, in fact, it was completely the opposite. Her extremely calm demeanor and expertise in the marketplace provided us with much-needed insight and reassurance at key moments in the process. Her suggestions were based on facts, she does her research! Repeatedly putting us in a position we were comfortable with, making sure, every nuance of the deals we wrote we owned. While we may have lost out on some houses along the way, it turned out, none of them were really our dream home. And when “the one”, did come on the market, she knew it was what we wanted, We worked “together” for the house we now call “home”. Her support team (Rolodex) is equally as impressive. From contractor referrals, inspectors, and more everyone she connected us with along the way was professional and prompt. When everything in the housing market seems so chaotic, it’s good to know there are people like Marika Feibel out there to bring calm expertise to the storm. Big Thanks!
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Marika Feibel

Principal Real Estate Broker | License ID: 200606315

+1(503) 317-3379 | marikafeibel@gmail.com

Let's get you to your dream home!

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