House Affordability Calculator
Find out how much house you can afford from your income, debts, down payment and mortgage rate using the 28/36 rule.
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Quick Tip
Enter your annual gross income and the total of your monthly debt payments, such as car loans, student loans and minimum credit card payments.
About This Tool
Why use House Affordability Calculator?
A house affordability calculator estimates the highest home price you can comfortably finance. It follows the debt-to-income guideline many US lenders use: housing costs should stay within 28% of your gross monthly income (the front-end ratio), and housing plus all other debt payments within 36% (the back-end ratio).
Example: with a $100,000 salary, $500 of monthly debt payments, a $60,000 down payment, a 6.5% 30-year rate, 1.1% property tax and $1,800 a year of insurance, your housing budget is $2,333.33 a month. That supports a home price of about $354,076 with a loan of $294,076 and principal and interest of $1,858.76.
Key Benefits
Lender-style 28/36 rule
Shows whether your housing ratio or your total debt ratio is the limit, so you know what to change to afford more.
Full monthly cost
Includes property tax, insurance and HOA fees, not just principal and interest.
Adjustable ratios
Use stricter limits for a comfortable budget, or the higher limits some loan programs allow.
How to use House Affordability Calculator
- 1
Enter your annual gross income and the total of your monthly debt payments, such as car loans, student loans and minimum credit card payments.
- 2
Add the down payment you have saved.
- 3
Enter the mortgage rate and loan term you expect.
- 4
Add your local property tax rate, yearly home insurance and any HOA fees.
- 5
Adjust the 28% and 36% ratios if your lender uses different limits, and review the maximum price and monthly payment.
Best use cases
Set a realistic price range before you start viewing homes.
See how paying off a car loan changes the home price you can afford.
Compare how much a lower interest rate or bigger down payment increases your budget.
Prepare for a mortgage pre-approval conversation with a lender.
How this tool compares
House Affordability Calculator FAQs
What is the 28/36 rule?
It is a common lending guideline: spend no more than 28% of gross monthly income on housing costs, and no more than 36% on housing plus all other debt payments. Some programs, such as FHA loans, allow higher ratios, but lower ratios leave more room in your budget.
How much house can I afford on a $100,000 salary?
With $500 of other monthly debts, a $60,000 down payment, a 6.5% 30-year mortgage, 1.1% property tax and $1,800 yearly insurance, the 28/36 rule supports about $354,000. Lower rates, fewer debts or a larger down payment raise that figure.
Does this include PMI?
No. If your down payment is under 20% on a conventional loan, private mortgage insurance adds to the monthly cost and reduces the price you can afford. Ask your lender for a PMI quote and include it in HOA fees for a closer estimate.
Should I borrow the maximum amount?
Not necessarily. The maximum does not account for savings goals, childcare, repairs or retirement contributions. Many buyers aim below the limit so their mortgage stays affordable if costs rise.
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