Mortgage Affordability Calculator

Calculate the maximum home price you can afford based on income, debts, down payment, and lender guidelines.

Free • Accurate • Instant Results

Mortgage Affordability Inputs

Monthly Gross Income

Down Payment

Mortgage Rate

Monthly Taxes & Insurance

Max Home Price

🏠

$335,287

Max Loan Amount

🏦

$275,287

Max Monthly Payment

💳

$2,240

28% of gross income

Down Payment

💰

$60,000

🤖

AI Insights

Personalized analysis based on your inputs

💡

28% Rule

Lenders typically cap housing costs at 28% of gross monthly income ($2,240/month here), and total debt at 36%.

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Formula Used

Affordability (28% Rule)

Max Payment = Gross Monthly Income × 28%

Variables

28% Rule= Standard front-end DTI limit used by most lenders

Example

$8,000 income × 28% = $2,240 max housing payment

Frequently Asked Questions

Housing costs shouldn't exceed 28% of gross monthly income, and total debt payments shouldn't exceed 36% — common lender guidelines for mortgage approval.

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Disclaimer: This calculator is for informational and educational purposes only. Results are estimates based on inputs you provide. They are not financial, tax, investment, or legal advice. Consult a qualified financial professional before making financial decisions. Actual results may vary based on market conditions, tax laws, and individual circumstances.