Home Affordability Calculator

How to find how much house you can afford

1. Enter your gross income, other monthly debt payments and down payment.
2. Enter the mortgage rate, term, property tax and insurance.
3. Keep the usual 28% and 36% limits or change them to see the highest price that fits.

Frequently asked questions

What are the 28% and 36% limits?

Lenders often want housing costs under 28% of gross monthly income, and all debt payments, housing included, under 36%. The lower of the two sets the limit.

What counts as other monthly debt?

Payments on car loans, student loans, credit card minimums and other loans. Bills such as utilities and groceries do not count.

How does the down payment change the result?

It adds directly to the price you can afford, because the loan for the same monthly payment is the same size.