Free calculator
Mortgage Affordability Calculator
Free Mortgage Affordability Calculator with instant browser-based results and a clear calculation breakdown.
Mortgage Affordability Calculator
Calculate how much house you can afford based on your income, debts, and down payment. This tool uses standard lending ratios to estimate your maximum home price.
Your total yearly income before taxes
Car loans, student loans, credit cards, etc.
Amount you can put down upfront
Annual mortgage interest rate
Typical terms are 15 or 30 years
Percentage of home value (varies by location)
Homeowners insurance as % of home value
Maximum Affordable Home Price
$0
Maximum Loan Amount:
$0
Down Payment:
$0
Monthly Payment (PITI):
$0
Front-End Ratio:
0%
Back-End Ratio:
0%
How this is calculated:
This calculator uses the 28/36 rule commonly used by lenders. Your housing costs (PITI: Principal, Interest, Taxes, Insurance) should not exceed 28% of your gross monthly income (front-end ratio), and your total debt payments should not exceed 36% of your gross monthly income (back-end ratio). The calculator determines the maximum loan amount that satisfies both ratios, then adds your down payment to find the maximum home price you can afford.
This calculator uses the 28/36 rule commonly used by lenders. Your housing costs (PITI: Principal, Interest, Taxes, Insurance) should not exceed 28% of your gross monthly income (front-end ratio), and your total debt payments should not exceed 36% of your gross monthly income (back-end ratio). The calculator determines the maximum loan amount that satisfies both ratios, then adds your down payment to find the maximum home price you can afford.
Disclaimer: This calculator provides estimates only and should not be considered financial advice. Actual mortgage approval depends on many factors including credit score, employment history, and lender-specific criteria. Consult with a qualified mortgage professional for personalized guidance.
Want to understand the calculation?
Read the guideSee examples, formula notes and limitations.