Home Affordability Calculator
Before you fall in love with a listing, know your number. Your income, your debts, and your down payment — turned into a realistic price range with the same 28/36 rule lenders use.
Debts = the monthly payments a lender sees: car loans, credit card minimums, student loans. Assumes a 30-year fixed mortgage, with property tax and home insurance estimated at about 1.6% of the home's value per year.
Estimates only: PMI (usually required under 20% down), HOA dues, and closing costs aren't included, and property tax and insurance vary a lot by state. Lenders also weigh credit score and loan type — treat this as your search range, not a pre-approval.
Have a price in mind already? See the exact loan payment →Home Buying & Mortgage Workbook
This calculator gives you the range — the workbook runs the whole purchase: a 15-tab system covering affordability, mortgage comparison, amortization, closing costs, a property scorer, and your first-year budget.
See the Home Buying Workbook →How much house you can actually afford
"How much house can I afford" has a real answer, and it isn't the biggest loan someone will approve. It's the price where the monthly payment — mortgage, taxes, and insurance together — fits inside your income with room left for everything else you pay. This calculator runs the same two ratios lenders use and shows the range, not just the ceiling.
The 28/36 rule, in plain terms
Keep housing under about 28% of gross monthly income, and housing plus all other debt payments under about 36%. Whichever limit you hit first sets your budget. That's why the same salary affords very different houses depending on the car payment parked next to it — every monthly debt dollar comes straight out of your housing budget.
Why the rate slider matters so much
On a 30-year loan, each percentage point of rate moves your price range by tens of thousands of dollars. Drag the slider between today's rate and one point lower and watch the swing — it's often the difference between neighborhoods. It's also why rate shopping between lenders is worth real money.
Buy inside the range, not at its edge
The stretch number is what the math allows, not what makes life comfortable. A house at the top of the range plus one surprise — a roof, a job change, a baby — is how people end up house-poor. Most buyers sleep better somewhere between the conservative and standard numbers, with the difference flowing into the emergency fund.
How much house can I afford on my salary?
A common lender guideline is the 28/36 rule: your housing payment (mortgage plus taxes and insurance) should stay under about 28% of gross monthly income, and all debt payments together under about 36%. This calculator applies both limits to your real numbers — income, existing debts, down payment, and rate — and turns them into a price range instead of a single overconfident number.
What is the 28/36 rule?
It's the classic debt-to-income guideline lenders use: no more than 28% of gross monthly income on housing (the front-end ratio), and no more than 36% on housing plus every other debt payment — cars, cards, student loans (the back-end ratio). Whichever limit you hit first is the one that caps your budget, which is why existing debt payments shrink how much house you can afford.
How does my down payment change what I can afford?
Dollar for dollar, the down payment adds straight onto your price range — it's the part of the house you don't have to finance. It also helps indirectly: a bigger down payment can mean better rates and, at 20% or more, no private mortgage insurance. This calculator adds your down payment on top of the loan your monthly budget supports.
Is this home affordability calculator free?
Yes — free, no ads, no signup, and it runs entirely in your browser. Nothing you enter is sent anywhere or stored.