House Affordability Calculator

Estimate how much home you can afford based on income, debts, down payment, and loan terms.

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Find out how much house you can realistically afford with our free calculator, based on your income, existing debts, and down payment, using standard lender affordability guidelines.

The 28/36 Rule

Lenders typically use the 28/36 rule: your monthly housing costs shouldn't exceed 28% of gross monthly income, and total debt payments shouldn't exceed 36%.

How to Use This Calculator

  1. Enter your gross monthly or annual income
  2. Enter your existing monthly debt payments
  3. Enter your available down payment
  4. Enter estimated interest rate and loan term
  5. Click Calculate to see your affordable home price range

Frequently Asked Questions

What is the 28/36 rule?

A common lending guideline: housing costs at most 28% of gross income, total debt payments at most 36%.

Does this include property tax and insurance?

Yes, a complete affordability estimate should factor in property tax and homeowners insurance.

Can I afford more than this calculator suggests?

Possibly, but exceeding standard ratios increases financial risk and lenders may decline higher amounts.

Does a bigger down payment increase what I can afford?

Yes, a larger down payment reduces your loan amount and monthly payment.