Home Affordability Calculator
Find out how much house you can afford based on your income and debts.
Debt-to-Income Ratios
Lenders typically require front-end ≤28% and back-end ≤36%.
Frequently Asked Questions
What is the 28/36 rule?▼
The 28/36 rule is a guideline used by lenders: your monthly housing costs (mortgage, tax, insurance) should not exceed 28% of gross monthly income, and total debt payments (housing + car + student loans + credit cards) should not exceed 36%. Exceeding these limits may affect loan approval.
How much down payment do I need?▼
Conventional loans typically require 5–20% down. FHA loans allow as little as 3.5% with a 580+ credit score. Putting less than 20% down usually requires private mortgage insurance (PMI), adding $50–200/month to your payment.
Does this include PMI?▼
This calculator focuses on principal, interest, taxes, and insurance (PITI). If your down payment is less than 20%, add roughly 0.5–1.5% of the loan amount annually for PMI. At $300,000 loan, that's $125–375/month more.
What other costs should I budget for?▼
Beyond the mortgage: closing costs (2–5% of purchase price), moving costs ($1,000–5,000), immediate repairs or renovations, ongoing maintenance (budget 1–2% of home value annually), HOA fees if applicable, and higher utility costs than renting.