Free Borrowing Power Calculator

How the borrowing power calculator works

To calculate your borrowing power, we take into account a couple of key pieces of information, your income and your debts. Your debt-to-income ratio is a metric that your loan officer will use to help determine how much you’ll be able to qualify for (or how much house you may be able to afford). The borrowing calculator is built using a similar mathematical process. There are a handful of variables built into the borrowing power mortgage calculator that you can explore, but here are a few that may be worth adjusting to better understand how they’ll impact your purchase price and monthly payment:

Down Payment – The calculator assumes that you’ll be putting 20% down. Most loan programs have at least a 3% down payment requirement. It’s also important to note that on most loan programs if you’re putting less than 20% down, you will also need to account for PMI (Private Mortgage Insurance).  While our calculator defaults to 20% down, you can manually adjust how much you would like to put down (if you move below the 20% mark the calculator will automatically add in a PMI estimate).

Interest Rate – We auto-populate the average mortgage interest rate based on current market conditions, but the interest rate that you qualify for will be based on your credit profile.

Yearly Property Tax: We’ve taken the national average, and included it as a default percentage. Please keep in mind, Taxes will vary from state to state.  For the most accurate estimate, you’ll want to consult your Mortgage Banker, or click here for an online estimate in your area.

Note: Like all mortgage calculators, the outputs are only as accurate as the information that’s entered. While we hope the tools are useful to help you explore your different mortgage options, it’s important to work with a lender who can examine your particular financial situation and give you a more accurate estimate.


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About Us
We’ve been helping customers afford the home of their dreams for many years and we love what we do.
HomeVantage Mortgage is a division of Austin Capital Bank SSB.
NMLS: 810021

Contact Us

3305 Steck Ave.
Austin, TX 78757
Phone: (512) 592-3840