Mortgage Affordability Calculator
Calculate how much house you can afford using the 28/36 rule
How Much House Can You Afford?
Our mortgage affordability calculator uses the 28/36 rule to determine your maximum home price. This industry-standard guideline states that your housing costs should not exceed 28% of your gross monthly income, and your total debt payments should not exceed 36%.
The 28/36 Rule
This rule helps ensure you don't overextend yourself financially. It accounts for your income, existing debts, and leaves room for other expenses and savings.
Factors That Affect Affordability
Income
Higher income increases your buying power proportionally
Existing Debts
Car loans, credit cards, and student loans reduce available housing budget
Down Payment
Larger down payment means less loan needed and lower monthly payments
Interest Rate
Lower rates increase affordability significantly