Home Affordability Calculator
Explore how a deposit, interest rate, repayment term, and your own payment limit affect an illustrative purchase price. Nothing is submitted or stored by Homescoutly. This is an educational estimate, not a lender pre-approval, quotation, or financial recommendation.
Year-by-year amortization
The table separates principal and interest using the current inputs. The final row may cover less than a full year when an overpayment shortens the term.
| Year | Principal paid | Interest paid | Remaining balance |
|---|
How the estimate works
The tool multiplies gross monthly income by your selected debt-payment ratio, then subtracts existing debt commitments. The remaining amount is treated as the maximum illustrative home-loan instalment. It converts that instalment to a loan amount using the standard fixed-payment amortization formula and adds your deposit.
A zero interest rate uses simple division rather than the amortization formula. Values are rounded for display. The estimate excludes lender-specific affordability tests, credit profile, variable rates, fees, taxes, insurance, rates, levies, maintenance, utilities, moving costs, and other transaction or ownership expenses.
Use a stress test, not only a best case
Recalculate with a higher interest rate, a smaller deposit, and a lower payment ratio. If the plan only works under the most optimistic combination, build more room into the budget. Confirm current rates and transaction costs with official sources and obtain advice appropriate to your circumstances before committing.