Real Estate Tools
Home Affordability Calculator
Discover how much home you can realistically afford. We apply the 28/36 debt-to-income rule used by mortgage lenders, factoring in your income, existing debts, down payment, and interest rate.
Configure
Affordability parameters
Uses the 28% front-end and 36% back-end DTI qualifying ratios
Breakdown
Monthly payment components
How home affordability is calculated
01
Enter income & debts
Input your gross annual income and total monthly debt payments (car loans, student loans, credit cards).
02
Add down payment & rate
Enter your available down payment, expected mortgage rate, and loan term.
03
Get your max home price
We calculate the maximum home price where your housing costs stay within the 28/36 DTI limits.
Frequently asked questions
What is the 28/36 rule? ▼
The 28/36 rule says your monthly housing costs (mortgage, taxes, insurance) shouldn't exceed 28% of gross monthly income, and total debt payments shouldn't exceed 36% of gross monthly income. Most conventional lenders use this guideline.
How much down payment do I need? ▼
Conventional loans typically require 3–20% down. A 20% down payment avoids private mortgage insurance (PMI), which adds 0.5–1.5% annually to your loan cost. FHA loans allow as little as 3.5% down.
Should I include property taxes in the calculation? ▼
Yes — mortgage lenders include PITI (principal, interest, taxes, insurance) in the 28% front-end ratio. Property taxes vary widely by location, typically 0.5–2.5% of home value annually.
Disclaimer: This calculator provides estimates based on general lending guidelines. Actual loan approval depends on creditworthiness, lender policies, and local market conditions. Consult a mortgage professional for personalized advice.
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