House Affordability Calculator
$0.00 max home price
How This Calculator Estimates Affordability
This calculator uses the standard 28/36 rule lenders commonly apply: your housing costs shouldn't exceed 28% of your gross monthly income, and your total debt payments (housing plus other debts) shouldn't exceed 36%. Whichever limit is stricter sets your maximum monthly housing budget, which is then converted into a maximum home price using your interest rate, loan term, and estimated property tax, insurance, and HOA costs.
Why Your Other Debts Matter
Car payments, student loans, and credit card minimums all count against the 36% back-end limit, which is why paying down other debt before house hunting can directly increase how much home you qualify for — often more effectively than saving a larger down payment.
This Is a Starting Point, Not a Pre-Approval
Lenders also weigh your credit score, employment history, and cash reserves, and this estimate doesn't include PMI. Use the mortgage calculator to see the exact payment breakdown, including PMI, once you have a specific home price in mind.
Frequently Asked Questions
What is the 28/36 rule?
It is a common lending guideline: housing costs should stay under 28% of gross monthly income, and total debt payments (including housing) should stay under 36%.
Does this include PMI?
No, this affordability estimate excludes PMI for simplicity. Use the mortgage calculator once you have a specific home price to see PMI factored into your payment.