Home Affordability Calculator

Income and Debts

Annual Income

Monthly Debts

Loan Details

Down Payment

Interest Rate

Loan Term

years

Property Expenses

Property Tax Rate

Home Insurance Rate

Understanding Home Affordability

Key factors that determine how much house you can afford:

28% Rule: Monthly mortgage payment should not exceed 28% of gross monthly income
36% Rule: Total monthly debt payments should not exceed 36% of gross monthly income
Down payment affects loan amount and monthly payments
Property taxes and insurance add to monthly costs
Interest rates significantly impact affordability

Note: This calculator provides estimates based on common lending guidelines. Actual loan approval amounts may vary based on credit score, employment history, and other factors. Consult with a mortgage professional for personalized advice.