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%
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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.

Client Feedback

David Chazin

Tercek Real Estate Group – Outstanding Team Working with Tercek Real Estate Group—Matt Tercek, Seth Murphy, Jennifer Fish, and the entire team—was an outstanding experience. As a newer real estate investor, I had a lot of questions and wanted to make sure I was making thoughtful decisions throughout the purchase process. From the beginning, they made everything remarkably simple and manageable. They were responsive, patient, knowledgeable, and always willing to explain the details. Matt was an exceptional resource throughout the process, and Seth and Jennifer were equally impressive—organized, responsive, and always one step ahead of what needed to happen next. What impressed me most was how much they genuinely cared about helping me make a good investment, not simply completing a transaction. They helped coordinate inspections, vendors, property access, questions, and countless details along the way. I would recommend Tercek Real Estate Group without hesitation to anyone buying a home or investment property. They have absolutely earned my trust, and I look forward to working with them again.

DavidChazin

Tercek Real Estate Group – Exceptional Experience for a New Real Estate InvestorWorking with Tercek Real Estate Group, and specifically Matt Tercek, Seth Murphy, Jennifer Fish, and their team, was an exceptional experience from beginning to end.As a newer real estate investor, I wanted to be very thoughtful about my second acquisition and had many questions throughout the process. Matt and his team made what could easily have been a complicated experience feel remarkably simple and organized.Matt was an invaluable resource. He provided thoughtful advice, market perspective, and practical guidance throughout the purchase process. I never felt pressured to move forward simply for the sake of completing a transaction. Instead, I felt that the team’s priority was helping me make a good long-term investment decision.Seth and Jennifer were also outstanding. They were extremely responsive, organized, and proactive, and they seemed to anticipate what needed to happen before I even had to ask. Their coordination of inspections, vendors, property access, timelines, and all the other moving pieces made the entire transaction much easier.The communication throughout the process was excellent, and whenever I had a question or needed another opinion, someone from the Tercek Real Estate Group was readily available to help.For anyone purchasing a home or investment property—particularly someone who values a highly responsive, knowledgeable, and professional team—I would recommend Tercek Real Estate Group without hesitation.They have earned my trust, and I look forward to working with Matt, Seth, Jennifer, and the team on future real estate investments.

Josh Sabraw

Matt and his team delivered incredibly fast results with an unconventional purchase in Portland. We had a tight timeline with many critical hurdles that this group was able to predict, navigate and negotiate so that I could sleep soundly. We chose Matt because of his granular knowledge of the purchase process and willingness to think-outside the box. The speed and precision of the questions and responses from Matt and his team kept us confident that we had made the correct choice.

Let's Connect!

Matthew Tercek
Matthew Tercek

Team Lead / Agent License ID: 201210228 (OR) 23013170 (WA)

+1(503) 453-5815 | matthew@tercekre.com

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