- Home
- Finance & Loans
- Home Affordability Calculator
Home Affordability Calculator
Find the home price your budget supports. Enter your household income, existing monthly debts and down payment, and the calculator applies standard lender debt-to-income limits — including property tax, insurance and HOA dues — to work out the maximum price, loan and monthly payment.
- Loan amount
- $294,076
- Total monthly housing payment
- $2,333.33
- Principal & interest
- $1,858.76
- What limits you
- Housing limit (28% of income)
Saved setups
Save a set of inputs you reuse — your usual rate, your loan, your room sizes — and load it back in one tap.
Your recent calculations
Results you calculate here are kept on this device so you can come back to them.
Formula
How to use it
- Enter gross yearly household income and your monthly debt payments, not counting rent.
- Enter your down payment, the mortgage rate and the term.
- Adjust property tax rate, insurance and HOA dues for the area you are looking in.
- Read the maximum price and note which limit — housing or total debt — is holding you back.
Worked examples
$100,000 income, $500 of monthly debts and $60,000 down at 6.5% over 30 years
- Home price you can afford
- $354,076
- Loan amount
- $294,076
- Total monthly housing payment
- $2,333.33
- Principal & interest
- $1,858.76
- What limits you
- Housing limit (28% of income)
$72,000 income with $900 of monthly debts and $20,000 down — the total-debt limit bites
- Home price you can afford
- $174,292
- Loan amount
- $154,292
- Total monthly housing payment
- $1,260.00
- Principal & interest
- $975.23
- What limits you
- Total debt limit (36% of income)
The 28/36 rule
The long-standing guideline says housing costs should not exceed 28% of gross income and all debt payments together should not exceed 36%. On $100,000 a year that is $2,333 a month for housing and $3,000 for all debts. FHA guidelines allow 31% and 43%.
Existing debt matters a great deal: every $100 of monthly debt payments above the cushion between the two limits removes roughly $13,000–$16,000 of buying power at rates around 6.5%.
What a lender will approve versus what is comfortable
These limits are based on gross income and ignore childcare, commuting, maintenance and savings goals. Budgeting 1–2% of the home’s value per year for upkeep is a common rule of thumb. Property tax rates in the US range from under 0.5% to over 2% of value, which moves the answer considerably. This is an estimate, not a pre-approval or financial advice.
Questions people ask
How much house can I afford on a $100,000 salary?
With $500 of monthly debts, $60,000 down and a 30-year loan at 6.5%, about $354,000 — a $294,000 loan and a $2,333 monthly payment including tax and insurance.
How much house can I afford making $72,000 a year?
With $900 of monthly debts and $20,000 down, about $174,000 at 6.5%. Here the 36% total-debt limit is the constraint; paying off debt would raise the figure.
Does a bigger down payment let me buy more house?
Yes, though by a little less than the extra cash: the loan you qualify for barely changes, and property tax on the higher price uses up some of the payment. With the default inputs each extra $1,000 down adds about $870 to the price. Reaching 20% down also avoids PMI.