How Much House Can I Afford Calculator
Enter your income, existing monthly debt, down payment, and loan terms to estimate an affordable home price using standard debt-to-income guidelines.
Last updated: September 22, 2026
Frequently asked questions
What is the 28/36 rule?
A widely used mortgage affordability guideline: your total monthly housing costs (mortgage, taxes, insurance) shouldn't exceed 28% of gross monthly income, and your total debt payments (housing plus other debts like car loans and credit cards) shouldn't exceed 36%.
Why does this calculator ask about existing monthly debt?
Lenders look at your total debt burden, not just the potential mortgage payment - the "back-end" 36% limit already has to cover your car payments, student loans, and credit card minimums, so more existing debt directly reduces how much mortgage payment you can qualify for.
Does a bigger down payment increase how much house I can afford?
Yes, directly - the down payment adds straight to the maximum loan amount to determine home price, and it can also reduce your monthly payment (a smaller loan needs a smaller payment) or help you avoid private mortgage insurance, freeing up more payment room.
Is this the same amount a lender will actually approve me for?
Not necessarily - lenders also weigh your credit score, employment history, cash reserves, and specific loan program guidelines (conventional, FHA, VA, etc.), which can push their actual approved amount higher or lower than this 28/36-rule estimate.
How does the interest rate affect how much house I can afford?
A higher rate increases the monthly payment for the same loan amount, which eats into the 28%/36% payment limits faster - so at a higher rate, the maximum loan (and therefore home price) the calculator returns is lower for the same income and debt.
On a $90,000 income with $500 in monthly debt, roughly what home price does the 28/36 rule suggest?
28% of $7,500 gross monthly income is $2,100 for housing costs; the 36% back-end limit allows $2,700 total minus $500 existing debt, or $2,200 - the lower of the two, $2,100, is generally the binding limit, which the calculator converts into a loan amount using your rate and term, then adds your down payment for total home price.
Does taxInsurance affect how much I can spend on principal and interest?
Yes - taxes and insurance count toward the 28% housing limit alongside your mortgage payment, so a higher estimated monthly tax and insurance amount leaves less room in that 28% cap for principal and interest, reducing the affordable loan amount.