House Affordability Calculator

Determine how much house you can comfortably afford based on your income.

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Your Financials

Car loans, student loans, credit cards. Do not include rent.

Loan & Property Assumptions
6.50
30
Affordability Estimate

You can afford a home up to

$255,179

Est. Principal & Interest

$1,486/mo

Est. Taxes & Insurance

$380/mo

This is an estimate based on the 28/36 rule. Your final approved loan amount may vary.

About This Calculator

About the House Affordability Calculator

This calculator helps you estimate a comfortable home price based on your financial situation. It uses the widely accepted "28/36 rule" to provide a baseline for what you can afford.

How it Works: The 28/36 Rule

Lenders use two key percentages to assess affordability:

  • Front-End Ratio (28%): Your total monthly housing payment—including Principal, Interest, Taxes, and Insurance (PITI)—should not exceed 28% of your gross (pre-tax) monthly income.
  • Back-End Ratio (36%): Your total monthly debt payments—including your new housing payment plus all other debts like car loans, student loans, and credit card payments—should not exceed 36% of your gross monthly income.

This calculator takes the lower, more conservative estimate of these two rules to determine your maximum affordable monthly payment, and from there, calculates the corresponding home price.

Key Inputs

  • Gross Annual Income: Your total income before taxes.
  • Total Monthly Debts: All your recurring monthly debt payments, excluding your current rent.
  • Down Payment: The amount of cash you have saved to put towards the home purchase.

The result is an estimate to guide your home search. Your actual approved loan amount may vary based on your lender, credit score, and other factors.