Home Affordability Calculator
Calculate the maximum home price you can afford based on your income, debts, and down payment using the 28/36 rule.
Maximum Home Price
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Max Loan Amount
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Max Monthly Payment (28% rule)
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Max Total Debt (36% rule)
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Estimated Monthly Payment
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Debt-to-Income Ratio
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The 28/36 Rule
- 28% Rule: Your monthly housing costs (mortgage, taxes, insurance) should not exceed 28% of your gross monthly income.
- 36% Rule: Your total monthly debt payments (housing + other debts) should not exceed 36% of your gross monthly income.
Frequently Asked Questions
What is included in housing costs?
Housing costs include the mortgage principal and interest payment, property taxes, homeowner's insurance, and if applicable, PMI (private mortgage insurance) and HOA fees.
How much should I put down?
A 20% down payment is traditional and avoids PMI, but many loan programs allow 3-10% down. A larger down payment means a lower monthly payment and more equity from day one.