Affordability Calculator

How much house can you afford? Enter your details below for an estimate.

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See how big of a home purchase loan you could afford.

Please note: Discover Home Loans does not offer purchase mortgages.

Main: Your down payment requirements may depend on your lender, the type of home loan you choose and the type of property you are buying. Your required down payment can range anywhere from 3%-20% of the home's purchase price. Lenders offer a variety of different loan programs, including low down payment options. Each loan program has different rules regarding the down payment required. Down payments can also vary by the amount you want to borrow, as well as factors like credit history.

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What is a cash out refinance?
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Cash out refinance requirements

It looks like you may be able to afford a home worth about $ for a payment of about $/mo.

$ loan amount

With a monthly payment of $

Home Value

$ |

Down payment

Home Value

loan amount

With a monthly payment of $

Down payment

Information and interactive calculators are made available as self-help tools for your independent use and are intended for educational purposes only. Any results are estimates and we do not guarantee their applicability or accuracy to your specific circumstances

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What does this possibly mean for me? 

Based on your income, expenses, and the loan you selected, the amount above represents the most you will likely be comfortably able to pay for a home. This assumes that your total costs for your loan payments (principal and interest), taxes, and insurance should not be higher than 45% of your monthly income, also known as debt to income (DTI). Note: Discover offers loans up to 43% DTI. Also, remember that you'll have additional homeownership costs that you may need to factor into your monthly budget, including insurance, association fees, and maintenance expenses. Mortgage insurance expenses—which you may have to pay if your down payment is less than 20%—are not included in this calculation. We suggest that all buyers get pre-qualified or pre-approved prior to starting their new home search.

It looks like you may not be able to afford a home at this time.

What does this possibly mean for me? 

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Note: Discover® Home Loans offers home equity loan and mortgage refinance products but does not offer purchase loans.

Interactive calculators and information are intended as self-help tools for your independent use and are for educational purposes only. Results are estimates, and we cannot guarantee their accuracy or applicability to your specific circumstances.

Discover Home Loans Restrictions and Details

We do not lend in IA or MD. You are not guaranteed approval. Once you apply and submit your credit and property information, we will confirm your eligibility. We don’t lend on cooperatives, condotels, investment properties, log homes, manufactured homes, mobile homes, or secondary homes. We will only originate one 1st lien mortgage per property per 12-month period. The maximum loan amount you qualify for will depend on additional factors, including type of loan, lien position, loan-to-value and your credit history. We may change rates, program terms, and conditions without notice. Discover Card accounts may not be paid off with this home loan. All loan programs are offered by Discover Bank, 2500 Lake Cook Road, Riverwoods, IL 60015. NMLS ID 684042.