Not a toy calculator - this one uses the same debt-ratio rules underwriters use, with taxes and mortgage insurance built in.
Debt-to-income ratios drive everything. On a conventional loan, your total monthly debts - housing plus everything else - generally must stay at or under 50% of your gross income. On FHA, the housing payment itself should stay under about 47% of income, while total debts can stretch to roughly 57% - which is why FHA often approves more than people expect.
Mortgage insurance works differently by program. On a conventional loan with less than 20% down, PMI pricing is based on your credit score - stronger credit, cheaper PMI - and it can be removed later as you build equity. On FHA, the annual mortgage insurance is a standard rate based on your loan amount and term regardless of credit, plus an upfront premium usually financed into the loan. That's why the right program depends on your whole picture, not just the rate.
Taxes and insurance count too. This tool builds in 1.25% annual property taxes (a common East Bay planning number - Mello-Roos areas run higher), an insurance estimate, and any HOA you enter - because your approval is based on the whole payment, not just principal and interest.
This is an estimate, not an approval. The real version takes about 15 minutes: book a free consult or text me at (925) 550-9733 and we'll turn your numbers into a pre-approval letter sellers take seriously.