Calculyn

Home Affordability Calculator

Find out how much house you can afford based on your income and debts.

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Results update as you type.

You can afford a home up to

$358,300
Monthly housing budget
$2,333
Loan amount
$298,300
Down payment
$60,000
  • Loan83%
  • Down payment17%
You can afford a home up to$358,300

Mortgage results are estimates, not a loan offer or financial advice. Your actual rate, taxes, insurance and fees will come from your lender.

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How it works

Lenders typically cap housing costs at 28% of gross monthly income, and total debt at 36%. We use the lower of the two, then subtract estimated property tax and insurance.

Formula

Budget = min(28% × income, 36% × income − debts)

Example

With $100,000 income, $500 in debts and $60,000 down at 6.5%, you could afford roughly a $370,000 home.

Assumptions & limitations

  • Fixed interest rate for the full term.
  • Excludes closing costs, points and rate changes.
  • Property tax and insurance are treated as steady yearly amounts.

Frequently asked questions

Is the 28/36 rule strict?

No — it's a guideline. Some loan programs allow higher ratios, but staying under it keeps your budget comfortable.

Does a bigger down payment help?

Yes. It lowers the loan amount, the monthly payment, and can remove PMI.