Affordability & Rates
Mortgage Affordability Calculator
What you can afford
Based on a 43% debt-to-income limit and an estimated 1.5% for taxes and insurance. Lenders may qualify you for more or less.
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A mortgage affordability calculator estimates the home price and loan amount you can realistically qualify for, based on your income, monthly debts, down payment and the prevailing interest rate. Rather than guessing, you get a target price range grounded in the same debt-to-income math lenders use to approve loans.
This is the first tool to run before house hunting. Conventional lenders generally target a housing payment near 28% of gross monthly income (front-end) and total debts around 36% (back-end), though many will stretch to roughly 45% to 50% with strong compensating factors like reserves or excellent credit. The 43% figure you'll often hear is a common qualified-mortgage guideline, not a universal hard cap. By entering your real numbers, you avoid shopping above your range or getting pre-approved for a payment that strains your budget.
Use the result as a ceiling, not a goal — many buyers comfortably spend less than the maximum to leave room for savings and life. A practical tip: paying down a car loan or credit card before applying lowers your DTI and can meaningfully increase the home price you qualify for. Note too that as of 2026 a one-unit loan above $832,750 (or $1,249,125 in high-cost areas) becomes a jumbo loan, which often demands a lower DTI and larger down payment to qualify.
Frequently asked questions
- How much house can I afford?
- It depends on income, monthly debts, down payment and rate. A common rule keeps your housing payment near 28% of gross income and total debts under about 36% to 43%. An affordability calculator turns those rules into a price range.
- What is the 28/36 rule?
- It's a conventional-lender guideline suggesting your housing costs stay at or below 28% of gross monthly income (front-end) and total debt payments below 36% (back-end). Many lenders allow higher ratios — often up to about 45% to 50% with compensating factors — but 28/36 is a conservative affordability benchmark.
- Does my down payment affect affordability?
- Yes. A larger down payment reduces your loan amount and monthly payment, helps you avoid PMI at 20% down, and can let you afford a higher-priced home for the same monthly cost.
- How can I afford more house?
- Lower your debt-to-income ratio by paying off other debts, increase your down payment, improve your credit score for a better rate, or boost income. Each step raises the loan amount you can responsibly qualify for.
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