Home Affordability Calculator: How Much House Can I Afford?
Enter what you earn, what you owe each month, and what you have saved. The results update as you type.
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More details: taxes, insurance, HOA
Comfortable, Moderate, and Stretch are rules of thumb that many lenders use as starting points. What you actually qualify for depends on your credit, documented income, savings, and the loan program.
How this home affordability calculator works
This calculator estimates how much house you can afford from your income, your monthly debts, your down payment, and the interest rate. It works backward from the monthly payment you can support to the home price that fits it, counting principal and interest, property taxes, homeowners insurance, mortgage insurance, and HOA dues.
Lenders look at two ratios: the share of your gross monthly income that goes to the housing payment, and the share that goes to housing plus all your other monthly debts. The Comfortable level uses 28% and 36%, Moderate uses 31% and 43%, and Stretch uses 36% and 45%. These are common rules of thumb, not limits set by any one loan program, and lenders can approve more or less depending on credit, savings, and other factors.
Property taxes, insurance, and mortgage insurance vary a lot by location and loan type, so open the More details section and adjust them for your area. If your down payment is under 20% of the price, the estimate adds mortgage insurance at the rate you enter. FHA and VA loans follow different rules. Your lender can give you actual numbers.
Common questions about how much house you can afford
How much house can I afford on my income?
A common rule of thumb is to keep your housing payment near 28% of your gross monthly income, and all your monthly debts, including housing, near 36%. The calculator calls that Comfortable, and it also shows Moderate and Stretch levels that allow more.
What is the 28/36 rule?
It says your housing payment should be no more than 28% of your gross monthly income, and your total monthly debt payments, including housing, no more than 36%. It is a rule of thumb, not a limit set by any one loan program.
What counts as monthly debt?
Credit card minimums, car loans, student loans, and similar payments. Leave out your rent and your future mortgage, because the calculator adds the housing payment itself.
Does the calculator include property taxes and insurance?
Yes. It counts principal and interest, property taxes, homeowners insurance, mortgage insurance, and HOA dues. These vary a lot by location, so adjust them in the More details section.
How does my down payment change what I can afford?
A bigger down payment lowers the loan and the monthly payment. If you put down 20% or more, you also avoid mortgage insurance, so the same income can support a higher home price.
Will a lender approve me for this amount?
Not necessarily. What you actually qualify for depends on your credit, documented income, savings, and the loan program, so treat the results as a starting point.