Not financial advice. This page is general information and an estimate, not financial, tax or legal advice, and not an offer of credit. We don't state current rates and can't tell you whether you'll be approved. Lenders set their own requirements and terms, so confirm with the lender and a qualified professional.

If you work for yourself, lenders look at your income differently than they would a paycheck. Most of the time, what counts is the profit your tax returns show, not your gross revenue. Use this calculator to see what a home would cost each month, then check the number against the net income on your own returns. The math runs entirely in your browser; nothing you enter is sent anywhere.

Home price $ Down payment $ Interest rate (% per year) Enter the rate from a lender's quote. We don't supply current rates. Loan term Property tax per year $ Homeowners insurance per year $ HOA dues per month $ Mortgage insurance per month $ (optional) Mortgage insurance is typically required with a conventional loan when the down payment is under 20%, per the CFPB. Enter the amount from your Loan Estimate if it applies. The example values above are placeholders, not typical figures for any area.

What the numbers mean

PITI stands for principal, interest, taxes and insurance. The CFPB describes the total monthly payment as principal plus interest, plus mortgage insurance if applicable, plus the escrow amount for homeowners insurance and taxes. Property taxes and insurance are costs of homeownership rather than loan costs, so they may change from year to year even when your principal and interest payment stays the same. HOA dues are usually paid separately from the loan, but lenders count them as a housing cost, and the CFPB lists them among the monthly obligations a lender considers when deciding whether you can repay.

The amortization summary shows how much of your early payments goes to principal. In the first years of a long loan most of each payment is interest, so the balance falls slowly at first.

Check it against how lenders see your income

Qualifying is based on the income a lender can document and verify, not on what you deposit. A rough self-check: take the net profit on your last two years of returns (Schedule C), divide by 24 for a monthly figure, and compare it to the total payment above plus your other monthly debts. Lenders do their own calculation, including adjustments for the way your business income is reported, so treat this only as a sanity check. Our guide to getting a mortgage as a self-employed freelancer walks through what lenders ask for and how they analyze it.

Two other links worth keeping handy: how much self-employment tax reduces what you keep, and the car loan calculator, since a car payment counts as monthly debt on a mortgage application.

Limits of this calculator

It uses the standard fixed-rate payment formula. Adjustable-rate loans, interest-only loans, points, closing costs and prepaid items aren't included.
Taxes, insurance and mortgage insurance are entered by you and held flat; real escrow amounts change over time.
It doesn't predict whether you'll qualify or what rate you'll be offered. Compare Loan Estimates from several lenders.

Sources: the CFPB pages on principal and interest vs. total monthly payment, escrow accounts, mortgage costs and private mortgage insurance, plus the CFPB ability-to-repay compliance guide, all read October 17, 2026.