How much home can I afford?

This calculator helps answer "How much house can I afford?" by using the 28/36 ratio often used by lenders. Please see explanation below for important details.

Yearly Gross Income
Down Payment
Interest Rate
Term in years

0% down10% down20% down
Max House price
...using all down payment
Loan amount
Down payment rqd
Monthly loan payment
Max monthly other debt

Disclaimer: Do not rely on this calculator to make financial decisions.

For those with good credit lenders often use the 28/36 rule to determine how much you can afford. This means your house payment (loan + insurance + taxes) should be less than 28 percent of your gross income and that your total debt, including your mortgage payment, should be no more than 36 percent of your gross income. Using that ratio, insurance and property taxes usually fall between 3 to 6 percent of your gross income. We took the mean of 4.5 percent leaving a loan payment amount of 23.5% of your gross income.

These results are a simplified estimate and should not be relied upon to make financial decisions. For a more detailed analysis contact a professional such as those advertising on this site.

We do not deduct closing costs from your down payment as they can vary considerably especially if you're buying down the interest rate. So when entering your down payment make sure you leave enough savings to pay your closing costs and to cover a rainy day.