Mortgage Affordability Calculator
Wondering how much house you can afford? Enter your income, existing monthly debts, down payment, and a rate and term, and this estimates your maximum home price and monthly payment using the standard 28/36 debt-to-income rule lenders rely on. Updates as you type.
How this is worked out
- Front-end limit: 28% of your gross monthly income — the most you'd spend on housing.
- Back-end limit: 36% of gross monthly income minus your existing monthly debts.
- The lower of the two is your max monthly payment. We then reverse the mortgage formula (using your rate and term) to find the largest loan that fits, and add your down payment for the home price.
FAQ
How much house can I afford?
A common guideline is the 28/36 rule: spend no more than 28% of your gross monthly income on housing, and no more than 36% on total debt payments. This calculator applies both, takes the lower limit, and works backwards to a maximum loan and home price for your rate and term.
What is the 28/36 rule?
It's a debt-to-income guideline lenders often use. The "28" caps your monthly housing payment at 28% of gross monthly income (the front-end ratio). The "36" caps all monthly debt — housing plus car loans, credit cards, etc. — at 36% (the back-end ratio).
Does this include property tax and insurance?
This estimate is based on principal and interest. Real mortgage payments also include property tax, homeowners insurance and sometimes PMI or HOA fees, which reduce how much loan you can afford. Treat the result as an optimistic ceiling and leave room for those costs.
Is this a loan pre-approval?
No. It's an educational estimate, not a lending decision or financial advice. Actual approval depends on credit score, employment, the specific lender and full underwriting. Talk to a mortgage professional for real numbers.
Educational estimate only — not financial advice or a lending offer.
More calculators: loan payment calculator, compound interest calculator, and the full tools list.