CalcMyFin

Home & Mortgage

How Much House Can I Afford?

Estimate a realistic home price from your income, existing debts and down payment. The calculator applies the widely used 28/36 debt-to-income guideline and includes taxes, insurance and HOA dues.

  • Free, no sign-up
  • Private: runs in your browser
  • Updated September 2026

Your finances

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Car, student loan and credit card minimums. Not rent or living costs.
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How to use the home affordability calculator

  1. Enter your gross (pre-tax) annual household income.
  2. Add your monthly debt payments: car loans, student loans, credit card minimums and so on.
  3. Enter your down payment, expected interest rate and loan term.
  4. Adjust the property tax rate, insurance and HOA to match the area you're shopping in.

How it's calculated

Lenders commonly check two debt-to-income (DTI) limits:

  • Front-end (28%): housing costs should stay at or below 28% of gross monthly income.
  • Back-end (36%): housing costs plus other monthly debts should stay at or below 36%.

The calculator takes the lower of the two limits as your maximum monthly housing payment. It then solves for the home price whose mortgage principal and interest, property tax, insurance and HOA add up to that amount, given your down payment, rate and term.

Example

A household earning $100,000 a year with $500 in monthly debts can spend up to $2,333 a month on housing under the 28/36 rule. With $60,000 down, a 6.5% 30-year rate, 1.1% property tax and $1,500 a year of insurance, that supports a home price of about $358,000.

Tips

  • Paying down a car loan or credit card before you apply can raise your price range noticeably.
  • A larger down payment lowers the loan amount and can remove PMI.
  • Just because a lender approves a figure doesn't mean it fits your budget. Leave room to keep saving.
  • Get pre-approved before house hunting so you know your real rate and limit.

Frequently asked questions

What is the 28/36 rule?
It's a common lending guideline: spend no more than 28% of gross monthly income on housing, and no more than 36% on all debt payments combined. Many lenders allow higher ratios with strong credit or larger down payments, and FHA and VA loans use their own limits.
Does this include PMI?
No. PMI depends on your credit score and loan type, so it isn't included in the affordability solve. With less than 20% down, check the final price in our mortgage calculator with a PMI estimate added.
Should I use gross or net income?
Lenders use gross (pre-tax) income for DTI ratios, so this calculator does too. For your own comfort, compare the payment with your take-home pay using the budget calculator.
What counts as monthly debt?
Minimum required payments on car loans, student loans, personal loans, credit cards, child support and other installment debts. Everyday expenses like groceries and utilities aren't counted in DTI.
Mortgage calculatorMonthly payment with taxes, insurance, HOA and PMI.50/30/20 Budget calculatorSplit take-home pay into needs, wants and savings.Savings Goal calculatorHow much to save each month to hit a goal.

Sources

This calculator provides educational estimates only and is not financial, tax, legal or investment advice. Results depend on the assumptions you enter; actual terms from lenders, insurers and tax authorities may differ.