Mortgage Payment vs Affordability: P&I vs What You Can Carry
A **mortgage payment** quote is often P&I only. **Affordability** adds taxes, insurance, HOA, maintenance, and your other debts against income (DTI).
Step by step
1. Build PITI
Add tax, insurance, PMI, HOA to principal and interest.
2. Stress test DTI
Try +1% rate and +$200/month expenses—still comfortable?
3. Keep reserves
Target 3–6 months of PITI after closing costs.
Payment vs budget
Lenders approve on rules; you live on cash flow after closing.
- Payment calculator: Loan math for a given price, rate, term.
- Affordability: Income, debts, and PITI caps the price you should shop.
Use our calculators
Common mistakes
- Using P&I alone in budget
- Skipping maintenance reserve
FAQ
Why was I approved for more than my comfort?
Maximum DTI limits are not spending recommendations.