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Home Affordability Calculator

See the maximum home price your income supports under the 28/36 rule, with your down payment, taxes and debts factored in.

Gross annual income

Monthly debt payments

Down payment (cash)

Mortgage rate

Loan term

Property tax rate

Insurance + HOA / month

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How it works

Housing budget = min(28% × income, 36% × income − debts) · Price = (budget − ins/HOA + down × Pf) ÷ (Pf + tax%/12), where Pf = monthly P&I per $ of loan

Lenders size a mortgage with the 28/36 rule: housing costs should stay under 28% of gross monthly income (the front-end ratio), and all debt payments under 36% (the back-end ratio). The tighter of those two limits sets your housing budget. This calculator then works backward from that budget — subtracting insurance, HOA and the property tax that scales with price — to solve for the largest home price whose principal, interest, taxes and insurance still fit. Your down payment is added on top of the loan the budget supports.

Worked example

With $90,000 income ($7,500/month), the 28% front-end cap is $2,100 and the 36% back-end cap minus $500 of debt is $2,200 — so $2,100 governs. After $200 for insurance/HOA and property tax at 1.1%, a 6.5% 30-year loan of roughly $255,000 fits, which with $60,000 down supports a home near $315,000.

Frequently asked questions

What is the 28/36 rule?

It is the classic lender guideline: keep housing costs at or below 28% of gross monthly income, and total debt payments at or below 36%. The 28% front-end ratio limits the house; the 36% back-end ratio limits how much other debt eats into that room.

Does a bigger down payment let me buy more house?

Yes — because the down payment is added directly on top of the loan your income can support, and a larger down reduces the loan (and its payment), a bit more of your budget goes to price. It also helps you avoid PMI once you clear 20% down.

Is the maximum I qualify for what I should spend?

Not necessarily. Qualifying at 28/36 is an upper bound; many buyers stay well under it to leave room for savings, repairs and life changes. Treat the number as a ceiling, not a target.

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Educational estimate, not financial or real-estate advice. Actual costs, rates and returns vary by lender, market and property.