Mortgage affordability calculator
Choose your country and enter your income, your other debts and your deposit. The calculator applies the limits lenders commonly use there and says which one stops you.
Your figures
The result updates as you change a figure. Nothing you type is saved.
Result
Highest price: ￡410,000
Largest mortgage: ￡360,000
Monthly payment: ￡2,001 at 4.5% over 25 years
What limits you: Loan to income
| Limit | Largest mortgage | Highest price |
|---|---|---|
| Loan to income | ￡360,000 | ￡410,000 |
How this is worked out
In the UK most lenders cap a mortgage at about 4.5 times gross yearly income. In Canada the payment is tested at the qualifying rate, the higher of the contract rate plus 2% and 5.25%: housing costs may take up to 39% of gross income and all debts up to 44%, and the deposit must meet the minimum down payment.
In the US the guideline is housing costs (principal, interest, property tax and insurance) up to 28% of gross income and all debts up to 36%. The largest mortgage is the one whose monthly payment fits every limit.
Assumptions and limits
Mortgage insurance (CMHC premiums, US PMI), lenders' own stress rates, credit scores and closing costs are not included. Canada's amortisation is capped at 25 years, or 30 for a first-time buyer.
Sources
- Bank of England - High loan to income lending policy statement (PS19/26) (checked 2026-10-28)
- OSFI - Minimum qualifying rate for uninsured mortgages (checked 2026-10-28)
- CMHC - Calculating GDS / TDS (checked 2026-10-28)
- FCAC - Saving for a down payment (checked 2026-10-28)
- Fannie Mae Selling Guide B3-6-02, Debt-to-Income Ratios (checked 2026-10-28)
- CFPB - What is a Qualified Mortgage? (checked 2026-10-28)
An illustration with simplified rules, not financial advice.