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Home Affordability Calculator

Find out how much house you can afford based on your income, debts, and down payment.

  • Based on the 28/36 debt-to-income guideline
  • Accounts for your existing monthly debts
  • Shows your maximum home price and monthly payment
$110,000/yr
$600/mo

Car loans, student loans, credit cards, etc.

$70,000
6.75%
Debt-to-income comfort level

You can afford a home up to

$408,055

with a $70,000 down payment

Maximum loan amount
$338,055
Target housing payment
$2,700/mo
Estimated principal & interest
$2,193/mo

Based on the 36% debt-to-income guideline. Lenders also weigh credit score, employment history, and cash reserves.

The 28/36 rule explained

Lenders commonly use the 28/36 rule: your total housing payment should stay under about 28% of your gross monthly income, and your total debt payments (housing plus car loans, student loans, and credit cards) should stay under 36%. Our affordability calculator works backward from a target debt-to-income ratio to estimate the highest home price that keeps you within that comfortable range.

Beyond the monthly payment

Affordability is about more than qualifying for a loan. Remember to budget for closing costs, moving expenses, maintenance (often 1% of the home's value per year), and an emergency fund. Buying near the top of your budget leaves little room for rate changes or life events, so many advisors suggest targeting a payment below your maximum.

Other mortgage calculators

FHA Mortgage Calculator

Estimate your FHA loan payment with mortgage insurance premiums (MIP) and a low 3.5% down payment.

VA Mortgage Calculator

Estimate your VA loan payment with $0 down and no monthly mortgage insurance for eligible veterans.

Refinance Mortgage Calculator

See your new monthly payment and how much you could save by refinancing your existing mortgage.

Adjustable-Rate Mortgage (ARM) Calculator

Estimate the initial payment on an adjustable-rate mortgage and understand how it can change.

Home Affordability Calculator FAQs

The 28/36 rule explained

Lenders commonly use the 28/36 rule: your total housing payment should stay under about 28% of your gross monthly income, and your total debt payments (housing plus car loans, student loans, and credit cards) should stay under 36%. Our affordability calculator works backward from a target debt-to-income ratio to estimate the highest home price that keeps you within that comfortable range.

Beyond the monthly payment

Affordability is about more than qualifying for a loan. Remember to budget for closing costs, moving expenses, maintenance (often 1% of the home's value per year), and an emergency fund. Buying near the top of your budget leaves little room for rate changes or life events, so many advisors suggest targeting a payment below your maximum.