House Affordability Calculator

How to use the house affordability calculator

1. Enter your annual gross income and monthly debt payments.
2. Enter your down payment, the interest rate, and the term.
3. Adjust the housing and total-debt ratios if you want.
4. Read the estimated home price you could afford.

How much house can I afford

The usual way to answer how much house can I afford is to cap your housing payment at a share of your income. This house affordability calculator uses that idea: it works out the largest monthly payment your income supports, turns that into a loan using the rate and term, and adds your down payment to estimate an affordable home price. It is a quick home affordability and mortgage affordability check. Existing debts reduce the room you have, so they lower the figure.

The 28/36 rule

The default ratios follow the common 28/36 guideline: housing costs up to about 28% of gross monthly income, and all debt payments together up to about 36%. The tool takes the lower of the two caps, since both must hold. These are lender rules of thumb, not hard limits, and they vary by lender, loan type, and country, so both ratios are adjustable here.

Source: the 28/36 debt-to-income ratio is a widely used mortgage-lending guideline; exact limits vary by lender and country.

What the estimate leaves out

The payment in this tool is principal and interest only. A real housing payment usually also includes property tax, home insurance, and sometimes mortgage insurance or association fees, all of which count toward the front-end ratio. That means real affordability is lower than this estimate. Your credit, savings, and a lender's own rules also matter, so treat the result as a starting point.

An estimate, not financial advice

This is a guideline-based estimate, not a loan offer or a limit. It excludes tax and insurance and makes no assumption about your credit. Talk to a lender for a real figure. This is not financial advice.

FAQ

How much house can I afford on my income?

A common guide caps housing at about 28% of gross monthly income and total debts at about 36%. Enter your income, debts, down payment, and rate, and the tool estimates the home price that fits.

What is the 28/36 rule?

It is a lending guideline: housing costs up to roughly 28% of gross income, and all debt payments up to roughly 36%. It is a rule of thumb, and lenders vary, so the ratios are adjustable here.

Why is the real figure often lower?

Because the payment here is principal and interest only. Property tax, insurance, and any mortgage insurance add to the real monthly cost, which lowers what you can afford.

Do my other debts matter?

Yes. Existing monthly debt payments count toward the total-debt ratio, so higher debts reduce the home price you can afford. Lowering them raises it.

Is my information private?

Yes. Everything is calculated in your browser and nothing you enter is uploaded or saved.