🏡 Home Affordability Calculator
Find out how much house you can actually afford — based on your income, existing debts and down payment — using the same 28/36 debt-to-income rules lenders apply.
The 28/36 rule lenders use
Affordability isn't about the sticker price — it's about the monthly payment relative to your income. Most lenders apply two debt-to-income guidelines:
- Front-end (28%): your total monthly housing cost — principal, interest, taxes and insurance — should stay under 28% of your gross monthly income.
- Back-end (36%): all your monthly debt, including the new mortgage plus car loans, student loans and credit-card minimums, should stay under 36%.
This calculator finds the highest home price whose full monthly payment fits inside whichever of those two limits is tighter for you, then works backward from your down payment to a maximum price.
What actually moves your number
Three levers change what you can afford more than anything else:
- Paying down monthly debt frees up room under the 36% cap — often the fastest way to raise your budget.
- A bigger down payment means a smaller loan and, past 20%, no PMI eating into the payment.
- The interest rate — even a small rate change noticeably shifts how much house a given payment buys.
Afford vs. should-you-spend
The 28/36 rule is a ceiling, not a target. Buying at the very top of your range leaves nothing for maintenance, emergencies or life changes. Many buyers deliberately aim below the maximum so the home stays comfortable if income dips or rates on other debt rise.
Frequently asked questions
How much house can I afford on my income?
Lenders generally cap your housing costs at 28% of gross monthly income and your total debts at 36%. Enter your income, debts and down payment above and the calculator returns the maximum home price that fits those limits, including taxes and insurance.
What is the 28/36 rule?
It's a common debt-to-income guideline: keep total monthly housing costs under 28% of gross income (front-end) and all monthly debt payments under 36% (back-end). This tool sizes your budget to whichever limit is tighter for you.
Does the calculator include property tax and insurance?
Yes. It sizes the payment to include principal, interest, property tax, home insurance and PMI where applicable, so the maximum price reflects the full cost of owning, not just the loan.
How can I afford more house?
Pay down existing monthly debts to free up room under the 36% cap, increase your down payment, improve your credit to secure a lower rate, or extend the loan term. Each raises the price your monthly budget supports.
These calculators provide general estimates for educational purposes and do not constitute financial, tax, or legal advice. Figures are approximate; verify with a qualified professional and your lender before making decisions.