# If you converted your rent payment into a mortgage payment, how much house could you afford?

Suppose you pay $1,500 in rent every month. If you bought a house whose monthly mortgage payment equaled $1,500, how much would the home loan be for? The calculator below answers that question. It’s based on equation (3.11) in *The Calculus of Happiness. *Enter the relevant data into the **green** cells to get the home loan amount whose mortgage payment equals the given rent payment.

## Limitations

The calculator converts a rent payment to a mortgage payment, and then outputs the mortgage loan amount. This isn’t necessarily equal to how much house you can afford. That’s because there are other costs to owning a home that are not paid while you rent (e.g., property taxes); the Chapter 3 appendix of *The Calculus of Happiness *discusses how to obtain a more realistic estimate of the maximum house loan that incorporates additional costs.