Buying tools
Home Affordability Calculator
Estimate a comfortable purchase price and monthly payment using income, debts, down payment, and the classic 28/36 guideline.
How this affordability calculator works
Enter your gross annual income and current monthly debt payments such as car loans, student loans, and minimum credit card payments. Add the down payment you can bring to closing, the interest rate and term you expect, a property tax rate estimate, and a monthly insurance figure. The calculator finds the maximum housing payment allowed by the 28% front-end and 36% back-end rules, then backs into a loan amount and home price that fit that budget after taxes and insurance.
The binding rule badge shows whether the 28% housing cap or the 36% debt-to-income remaining budget is the tighter constraint. If you carry significant monthly debts, the 36% rule often limits you first. Reducing debts or increasing income raises the estimated affordable price; rising rates or tax rates pull it down.
After you land on a target price, refine the payment with the mortgage PITI calculator for a detailed taxes, insurance, and PMI breakdown. Check your current debt-to-income ratio before you stretch the budget.
This is an estimate only and not financial advice. Lenders may use different ratios, credit standards, and underwriting rules.
Reading your affordability results
Maximum home price combines the supported loan amount with your down payment. Estimated monthly payment includes principal and interest plus modeled property tax and insurance. These numbers are planning tools—not a promise of loan approval. Local taxes, HOA fees, credit scores, and lender overlays can all change what you can actually finance.
Affordability calculator FAQ
What is the 28/36 rule?
A common guideline that housing costs should stay near or below 28% of gross monthly income, while total debt payments (including housing) stay near or below 36%. This calculator uses the tighter of those two limits.
Why is my max price lower than I expected?
Existing monthly debts reduce room under the 36% back-end ratio. Higher rates, taxes, or insurance also leave less budget for principal and interest, which lowers the supported loan amount.
Does a larger down payment increase what I can buy?
Yes. A larger down payment reduces the loan needed for a given purchase price and can support a higher home price within the same monthly housing budget.
Is this a pre-approval?
No. It is an estimate only and not financial advice. Lenders review credit, reserves, employment, and property details before approving a loan amount.