Home Affordability Calculator
Find out how much house you can afford based on your income, taxes, and debts. Free mortgage affordability calculator with a comfortable-to-lender-guideline price range and monthly cost breakdown.
Frequently Asked Questions
- How much house can I afford?
- This calculator shows a range. The comfortable end keeps all housing costs, including property tax, insurance, HOA, and utilities, near 30% of your estimated take-home pay. The lender guideline end uses the standard 28/36 rule on gross income, including PMI if you put down less than 20%. Some lenders approve more, up to about 43% of gross income for all debts.
- What is the 28/36 rule for mortgages?
- The 28/36 rule says your monthly housing costs should not exceed 28% of your gross monthly income, and your total monthly debt payments including housing should not exceed 36%. Lenders use these as general guidelines — exact limits vary by lender and loan type.
- Should I enter my income before or after taxes?
- Enter your gross income, before taxes. Lenders qualify you on gross income, and the calculator estimates your take-home pay from federal, Social Security, Medicare, and state income taxes to find the comfortable end of the range.
- Are utility costs included in the affordability estimate?
- Yes, in the comfortable end of the range. Utilities use state averages, or a national average if no state is selected. Lenders do not count utilities, so they are shown but not included in the lender guideline calculation.