Home affordability calculator: use this free home affordability calculator to find out how much house you can afford based on your income, debts, and down payment.
Home Affordability Calculator
— 2026 Buyer Budget Tool
Find out how much house you can afford based on your income, debts, and down payment. Takes 30 seconds.
Home Affordability Calculator
Based on the 28/36 lender qualification ruleHome affordability calculator — 4 things buyers miss
Home affordability calculator — budget by income level
| Annual income | Max housing (28%) | Conservative budget | Maximum budget |
|---|---|---|---|
| $60,000 | $1,400/mo | $215,000 | $240,000 |
| $80,000 | $1,867/mo | $287,000 | $320,000 |
| $100,000 | $2,333/mo | $360,000 | $400,000 |
| $120,000 | $2,800/mo | $432,000 | $480,000 |
| $150,000 | $3,500/mo | $540,000 | $600,000 |
Based on 6.5% interest rate, 30-year term, $20,000 down payment, $400/month existing debts.
How the home affordability calculator works
Once you know your budget, the next step is comparing mortgage rates. A 0.5% rate difference on a $350,000 loan saves over $30,000 in interest over 30 years.
Compare Mortgage Rates We may earn a commission if you apply through this link — at no extra cost to you.Home affordability calculator — common questions
How much house can I afford?
Most lenders follow the 28/36 rule — your monthly housing payment should not exceed 28% of gross monthly income, and total debts should not exceed 36%. On a $95,000 income with $450 in monthly debts, this home affordability calculator puts your budget at roughly $320,000–$365,000 at a 6.5% rate.
What is the 28/36 rule?
The 28/36 rule means your monthly housing costs should not exceed 28% of gross monthly income, and all monthly debt payments combined should not exceed 36%. Most conventional lenders use this as their baseline when qualifying buyers for a mortgage.
How does a home affordability calculator work?
A home affordability calculator takes your income, existing debts, down payment, rate, and loan term to calculate the maximum loan you qualify for based on DTI limits. It then adds your down payment to show the total home price. Use our closing cost estimator alongside this to budget for all upfront costs.
How much down payment do I need?
Conventional loans require 3–20% down. FHA loans require 3.5% minimum. VA and USDA loans allow 0% for qualifying buyers. A 20% down payment eliminates PMI, saving $100–$300 per month. Check your DTI ratio to see how your debts affect your qualification.
Related tools to use with the home affordability calculator
Results from this home affordability calculator are estimates for informational purposes only. Actual mortgage qualification depends on credit score, employment history, and lender requirements. Not financial advice. Always consult a qualified lender before making purchasing decisions. Last updated: March 2026.