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About the House Affordability Calculator
The House Affordability Calculator estimates the home price you can afford based on your income, monthly debts, down payment, loan term, and interest rate. It returns an affordable price range along with an estimated monthly payment.
The calculation applies the standard 28/36 rule: housing costs should stay near 28 percent of gross monthly income, and total debt payments near 36 percent. The tool combines these limits with your down payment and rate to estimate a loan amount. Enter realistic figures for taxes and insurance so the monthly estimate matches real costs. For a final mortgage decision, consider speaking with a lender or financial professional.
- Enter your gross monthly income before taxes.
- Add monthly debt payments such as car loans, student loans, and credit card minimums.
- Input your down payment, loan term, and interest rate to see the affordable price and payment.