House Affordability Calculator
Estimate how much house you can afford based on your income, existing debts, and down payment.
The 28/36 rule explained
Lenders commonly use two ratios to determine affordability: the front-end ratio caps housing costs at 28% of gross monthly income, while the back-end ratio caps total debt payments (housing plus all other debts) at 36%. This calculator uses whichever limit is more restrictive for your situation.
These are guidelines, not hard rules — some lenders allow higher ratios (up to 43-50% back-end) for well-qualified borrowers, particularly with strong credit and stable income, while more conservative buyers may prefer to stay well under these limits.
What this estimate doesn't include
This calculator assumes taxes and insurance make up roughly 15% of your total housing budget, which is a reasonable approximation but varies by location — property tax rates alone differ significantly by state and even by county.
It also doesn't account for HOA fees, PMI (private mortgage insurance, often required with less than 20% down), or your personal comfort level with a given payment — getting pre-approved by an actual lender remains the most accurate way to know your real number.
Frequently asked questions
Why is my back-end ratio lower than my front-end limit?
The back-end ratio subtracts your existing monthly debts (car payments, student loans, credit cards) from your total allowed debt load, which often makes it the more restrictive limit if you carry other debt.
Does this account for property taxes and insurance?
Yes, approximately — the calculator assumes taxes and insurance take up about 15% of your total housing budget, though actual rates vary significantly by location.