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Find out how much house you can afford from your income, debts, down payment and mortgage rate, using the 28/36 rule lenders follow.
How much house can I afford?
Everything happens on your device: nothing is uploaded to the internet.
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Home affordability calculator: what it is for
Enter your yearly income, monthly debt payments, down payment and mortgage rate. The calculator finds the highest home price whose full monthly payment (principal and interest, property tax, insurance, HOA and PMI) fits the 28/36 rule, and shows the payment breakdown.
Change the rate or down payment to see how much they move your budget.
How to use
- Enter your income and monthly debts.
- Enter your down payment and mortgage rate.
- See the maximum price and the monthly payment.
When to use it
- Setting a budget before house hunting.
- Seeing how paying off debt raises your budget.
- Comparing rates and down payments.
Frequently asked questions
What is the 28/36 rule?
Lenders like your housing payment (mortgage, property tax, insurance, HOA) to stay under 28% of your gross monthly income, and all your debt payments under 36%. The calculator uses whichever limit is lower.
Does it include PMI?
Yes. With less than 20% down, it adds private mortgage insurance of about 0.5% of the loan per year, a common middle estimate.
Can I borrow more than this?
Some loans allow higher ratios (FHA up to about 43% to 50% total DTI), but a payment you can comfortably afford leaves room for savings and surprises.
Is it really free?
Yes, 100% free. No sign-up, no subscription and no usage limits. All Tools123 tools are free and run right in your browser.