Mortgage Affordability Calculator
Estimate how much house you can afford from income, debts, down payment and rate — using the standard 28/36 DTI rule.
Inputs
Result
Visual breakdown
System view
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Formula
Max monthly housing payment = min(28% × gross monthly income, 36% × gross monthly income − monthly debts). PI = max payment − taxes − insurance − HOA. Loan back-calculated from PI, then home price = loan + down payment.
Example
$100k income, $500 debts, $40k down, 7% / 30 yr, $4k tax + $1.5k ins → max housing ≈ $2,333/mo, home price ≈ $310k.
Related: Mortgage · Down payment · Rent vs buy
How to use
- Enter annual income and recurring monthly debts (cards, loans, child support).
- Enter the down payment you'll bring and a realistic rate and term.
- Add yearly property tax and insurance — and HOA if applicable.
- The result is an estimate using 28/36 DTI guidance — not a pre-approval.
When it's useful
- Pre-shopping to set a realistic price range.
- Stress-testing affordability if rates rise.
- Comparing two cities with different taxes and insurance.
- Sanity-checking a lender's stated max.
Common examples
Common answers
- How much house can I afford on $80,000?Often $250k–$320k depending on debts, down payment and rate.
- How much house on $100,000?Often $320k–$420k under typical 28/36 DTI rules.
- What's the 28/36 rule?Housing ≤ 28% of gross income, total debt ≤ 36%.
- Does a bigger down payment let me afford more?Yes — it lowers the loan and the monthly payment.
- Do taxes and insurance count?Yes — taxes, insurance and HOA all eat into your housing limit.
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Frequently asked
Is this a pre-approval?
No. Lenders weigh credit, employment history, assets and program-specific limits. Use this for planning, not to commit.
Why the 28/36 rule?
It's a widely used guideline: housing ≤ 28% of gross income (front-end) and total debts ≤ 36% (back-end). Many lenders allow more for strong borrowers.
Does it include PMI?
No. With under 20% down, expect PMI to add roughly 0.3–1.5% of the loan per year until you reach 20% equity.
Why does my affordability drop with higher debts?
Higher debts eat into the 36% back-end limit, leaving less room for housing.
Is anything stored?
No — every value stays in your browser.
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More money & work →Estimates only — not a mortgage pre-approval and not financial advice.