House Affordability Calculator
Determine how much house you can afford based on your income, debts, and down payment using the 28/36 rule.
Income & Debt Information
Enter your financial information to calculate home affordability
Before taxes and deductions
Credit cards, car loans, student loans, etc.
Cash available for down payment
Current mortgage interest rate
Additional Housing Costs
These costs are included in your total monthly housing payment
Annual property tax as % of home value
Annual homeowner's insurance premium
Private mortgage insurance (if down payment < 20%)
Homeowner's association fees
The 28/36 Rule Explained
The 28/36 rule is a standard guideline used by lenders to determine how much house you can afford.
28% Front-End Ratio:
Your total monthly housing costs (PITI + HOA) should not exceed 28% of your gross monthly income.
36% Back-End Ratio:
Your total monthly debt payments (housing + all other debts) should not exceed 36% of your gross monthly income.
Tips for Home Buyers
- •Get pre-approved: Know your exact budget before house hunting
- •Save for closing costs: Typically 2-5% of the home price
- •Consider all costs: Maintenance, utilities, and repairs add up
- •Don't max out: Leave room in your budget for unexpected expenses
- •Shop around: Compare rates from multiple lenders