House Affordability Calculator
Determine how much house you can afford based on income, debts, and down payment. Free, fast, accurate — no signup, mobi
Income & Debts
Loan Details
Monthly Costs
Maximum Home Price
Based on your financial profile
Max Loan Amount
Financing needed
Required Down Payment
5% minimum
Monthly Payment (P&I)
Principal & Interest
Total Monthly Payment
Including taxes & insurance
Debt-to-Income Ratio
Max: 43%
Front-End Ratio
Housing costs only
How it works
A house affordability calculator works out a price range from your income, debts, down payment, and rate — based on the lender's 28/36 rule. No more than 28% of gross monthly income should go to housing, and no more than 36% to all debt combined.
The 28/36 rule
Max housing payment ≈ 28% × gross monthly income Max total debt ≈ 36% × gross monthly income
- gross income
- monthly income before tax
- housing payment
- mortgage + taxes + insurance (PITI)
Worked example
- Gross monthly income = $7,000
- Existing debt payments = $400/month
- Max housing = 7,000 × 0.28 = $1,960
- Max total debt = 7,000 × 0.36 = $2,520 → leaves $2,120 for housing
Aim for a housing payment around $1,960 — the lower of the two limits.
Good to know
- The payment cap includes taxes and insurance (PITI), not just principal and interest.
- Lower interest rates and a bigger down payment both raise the price you can afford.
- Just because you qualify for a payment doesn't mean it fits comfortably — leave room for savings and the unexpected.
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Frequently Asked Questions
How much house can I afford?
A classic guideline is the 28/36 rule: spend no more than 28% of gross monthly income on housing costs (mortgage, taxes, insurance) and no more than 36% on all debt payments combined. The calculator applies your income, debts, down payment, and interest rate to estimate a comfortable price range.
What is debt-to-income ratio (DTI) and why does it matter?
DTI is your total monthly debt payments divided by gross monthly income. Lenders use it to gauge repayment capacity — many cap total DTI around 43-50% depending on the loan program, but staying well below the maximum leaves room in your budget.
How does the down payment affect affordability?
A larger down payment shrinks the loan, lowers the monthly payment, and — at 20% down on a conventional loan — eliminates private mortgage insurance. Smaller down payments are possible (3-5% conventional, 3.5% FHA) but raise both the payment and total interest.
What costs should I budget for beyond the mortgage payment?
Property taxes, homeowners insurance, PMI if under 20% down, HOA dues, utilities, and maintenance — commonly estimated at 1-2% of the home's value per year. These can add hundreds of dollars monthly, so include them when judging affordability.
How do interest rates change how much house I can afford?
Higher rates raise the monthly cost of every borrowed dollar. As a rough rule, each 1 percentage point increase in mortgage rates cuts your buying power by about 10% for the same monthly payment, so rate changes can matter as much as price changes.