Pro Tip
Most buyers focus on monthly payments. But on a $300K loan at 6.5%, you'll pay $401K in interest over 30 years. See the full picture below.
Mortgage Affordability Calculator
Find out how much house you can afford based on your financial profile
Current Average Mortgage Rates
Source: Freddie Mac PMMS • Updated 2026-05-28
Your Location
Income & Debts
Loan Details
Credit score affects PMI rates
Additional Costs
Maximum Home Price You Can Afford
$363,094
Monthly Payment
$2,646
Loan Amount
$313,094
Total DTI Ratio
43%
Housing Ratio
37.4%
Loan-to-Value
86.2%
Down Payment
13.8%
Private Mortgage Insurance (PMI) Required
Because your down payment is 13.8% (below 20%), you'll pay $128/mo in PMI (rate: 0.49% annually). PMI automatically drops off after approximately 67 months (6 years) when your equity reaches 20%.
💡 Tip: Increasing your down payment to 20% eliminates PMI entirely, saving you $8,576 over the PMI period.
High Risk — Proceed with Caution
At 43% DTI, you're near the maximum most lenders allow (43%). This leaves very little financial cushion. Consider increasing your down payment, reducing debts, or targeting a lower home price. Your monthly payment includes $128 in PMI because your down payment is 13.8% (below 20%). PMI will drop off after 67 months (~6 years).
Monthly Payment Breakdown
Lifetime Cost Summary (30 Years)
Home Price
$363,094
Down Payment
$50,000
Total Interest Paid
$401,559
Total Amount Paid
$952,499
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