Free home-affordability calculator
How Much House Can You Afford?
This calculator applies the 28/36 ratio standard used by conservative lenders and financial planners, and reports both the amount a lender is likely to approve and the more conservative figure the standard supports.
Your numbers
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Combined pre-tax income from all earners in the household.
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Car loans, student loans, credit card minimums, personal loans. Do not include rent.
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Amount you have saved or plan to put down.
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National average is about 1.1%. Check your county for exact rate.
Your results
Maximum Home Price
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Front-End Ratio
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Limit: 28% of gross
Back-End Ratio
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Limit: 36% of gross
Front-end ratio is your housing costs alone as a percentage of gross income (capped at 28%). Back-end ratio is housing plus all other debt payments (capped at 36%). The calculator uses whichever is more restrictive.
PMI applies. Your down payment is less than 20% of the home price, so private mortgage insurance is included in the estimate (~0.7% of loan amount per year). PMI adds $0/month. Once you reach 20% equity, you can request to remove it.
Monthly Payment Breakdown
Principal & Interest
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Property Tax
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Home Insurance
$0
Private Mortgage Insurance
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Total Monthly Housing
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Key Numbers
Monthly gross income
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Existing monthly debts
$0
Down payment percentage
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Binding constraint
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A more comfortable target
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The number above is your ceiling, not your target. A home at 80% of your maximum keeps your budget flexible for maintenance, repairs, and life. The best homeowners are the ones who aren't house-poor.
What the banks won't tell you
Lenders will approve you for the maximum. They profit from larger loans. This calculator uses the 28/36 rule as a hard ceiling, but in practice, keeping your housing costs closer to 25% of gross income gives you room to save, invest, and absorb unexpected expenses. A home should build wealth, not consume it.
This calculator provides estimates based on the 28/36 qualifying rule. Actual mortgage approval depends on credit score, employment history, assets, and lender-specific criteria. Insurance and property tax estimates are approximate. This is not a loan pre-approval. For personalized financial guidance, schedule a consultation.