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How Much House Can I Afford?
Estimate an affordable purchase price based on your income, debt, and down payment.
Results
You can afford a house up to $0 according to the 28/36 rule.
| You can borrow | $0 |
| Total price of the house | $0 |
| Down payment | $0 |
| Estimated closing cost (one time, assume 3%) | $0 |
| Total one-time payment at closing | $0 |
| Monthly mortgage payment | $0 |
| Annual property tax | $0 |
| Annual insurance cost | $0 |
| Total monthly cost on the house | $0 |
House affordability based on fixed, monthly budgets
This a separate calculator used to estimate house affordability based on monthly allocations of a fixed amount for housing costs.
Results
You can afford a house up to $0.
| You can borrow | $0 |
| Total price of the house | $0 |
| Down payment | $0 |
| Estimated closing cost (one-time, assume 3%) | $0 |
| Total one-time payment at closing | $0 |
| Monthly mortgage payment | $0 |
| Annual property tax | $0 |
| Annual insurance cost | $0 |
| Annual maintenance cost | $0 |
| Total monthly cost on the house | $0 |
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How to Determine House Affordability
Our House Affordability Calculator helps you determine a comfortable price range for a new home. It uses the common debt-to-income (DTI) ratios that lenders use to assess your borrowing capacity.
Understanding the 28/36 Rule
A widely used guideline for mortgage lending is the 28/36 rule. It states:
- Front-End Ratio (28%): Your total housing costs (mortgage principal and interest, property taxes, and homeowners insurance - PITI) should not exceed 28% of your gross monthly income.
- Back-End Ratio (36%): Your total debt payments (PITI plus all other debts like car loans, student loans, and credit cards) should not exceed 36% of your gross monthly income.
Our calculator allows you to choose from different DTI rules, including more aggressive options, to see how your affordability changes.