Estimate the home price you can afford from your income, debts, down payment and mortgage rate.
How house affordability is worked out
This calculator uses the common 28/36 rule to estimate an affordable home price. It caps your housing payment at a share of income and works back to a loan amount, then adds your down payment.
It’s a planning guide — lenders also weigh credit, taxes and insurance.
Using the calculator
- Enter your annual income and monthly debts.
- Enter your down payment, rate and term.
- Read the affordable home price and payment.
Formula reference
max payment ≈ min(28% of income, 36% of income − debts)
max loan from payment, + down payment = price
Try it with these numbers
As an example, with a annual gross income of 90,000, the calculator returns a home you can afford of $372,242.72. Underneath, Max monthly payment comes out at $2,100 and Max loan at $332,242.72. Change any field and every figure updates as you type.
Questions people ask about this
What is the 28/36 rule?
Spend no more than 28% of gross monthly income on housing, and no more than 36% on total debt including housing.
Does this include taxes and insurance?
This estimate focuses on principal and interest. Real budgets should leave room for tax, insurance and maintenance.
Is this a pre-approval?
No — it’s a guide. A lender’s pre-approval considers credit, documentation and more.