Mortgage Affordability Calculator (How Much House Can I Afford?)
Estimate the home price you can afford from your income, debts, down payment and interest rate, using the 28/36 debt-to-income rule lenders use.
For information and education only — not financial advice. Results are estimates based on the numbers you enter; check important decisions with a qualified professional.
How to use
- 1Enter your gross annual income and monthly debt payments.
- 2Add your down payment, mortgage rate, and estimated property tax and insurance.
How it's calculated
Maximum housing payment = the lower of 28% of gross monthly income and 36% minus other debts. The home price is solved so that principal & interest + property tax + insurance equals that payment.
Frequently asked questions
What is the 28/36 rule?
A common guideline: housing costs up to 28% of gross income and total debt payments up to 36%. Some loan programs allow more.
Should I borrow the maximum?
Not necessarily. Lenders don't see childcare, savings goals or retirement contributions. Many people choose a price comfortably below the limit.
Does this include PMI and HOA fees?
Add HOA dues to your monthly debts to account for them. PMI applies with under 20% down and would lower the price you can afford slightly.