Home Affordability Calculator
Calculate how much house you can afford based on income, debts, down payment, and interest rates. See your maximum home price and comfortable monthly payment.
How to Use This Calculator
- Enter your annual gross income (before taxes)
- Add your monthly debt payments (car loans, credit cards, student loans)
- Input your down payment amount or percentage
- Enter the current interest rate
- Select your preferred loan term
- Add property tax and insurance costs
- Adjust DTI limits if desired (standard is 28/36 rule)
- Click Calculate to see how much house you can afford
Income & Debts
Loan Details
Additional Costs
Debt-to-Income (DTI) Limits
💡 Understanding Home Affordability
Lenders typically use the 28/36 rule to determine affordability: No more than 28% of gross income for housing costs (principal, interest, taxes, insurance) and no more than 36% for total debt (including car loans, credit cards, etc.).
🏠 Maximum vs. Comfortable Price
Maximum Price: The highest home price you qualify for based on lender limits. Comfortable Price: A more conservative estimate (25% DTI) that leaves room for other expenses and savings. Many financial advisors recommend staying below your maximum to maintain financial flexibility.
⚠️ Don't Forget These Costs
Remember to budget for additional homeownership costs not included in your mortgage payment: Maintenance (1-3% of home value annually), Utilities, Closing costs (2-5% of purchase price), and Emergency repairs.
🔗 Save & Share Your Calculation
Your inputs are automatically saved in the URL. You can bookmark this page to save your calculation, or use the Share button to send it to others. When you return or share the link, all values will be restored automatically.
Frequently Asked Questions
How much house can I afford on my salary?
A common guideline is the 28/36 rule: spend no more than 28% of gross monthly income on housing and 36% on total debt. On a $100,000 salary (~$8,333/month), that's about $2,333 for housing. Your down payment, interest rate, and existing debts adjust the final number.
What is the 28/36 rule?
It's a lending guideline: your monthly housing costs should stay under 28% of gross monthly income, and all debt payments (housing + car + student loans + credit cards) under 36%. Lenders use it to gauge how much mortgage you can safely carry.
Does my down payment change how much house I can afford?
Yes. A larger down payment means a smaller loan and lower monthly payment, so you can afford a higher purchase price. Putting down 20% or more also avoids private mortgage insurance (PMI), freeing up budget.
Should I include property taxes and insurance?
Yes — lenders count your full PITI payment (principal, interest, taxes, and insurance) against the 28% housing limit, so always include estimated property taxes and homeowners insurance when judging affordability.