Free House Affordability Calculator - How Much Can You Afford?
Calculate the home price you can afford based on your income, debts, and down payment. Know your budget before house hunting.
Quick Answer
Home affordability depends on income, debts, down payment, and interest rates. Generally, housing costs should be under 28% of gross income, total debt under 36%. Our calculator shows the maximum home price you can afford.
Key Facts about House Affordability Calculator:
- 28/36 rule: housing 28%, total debt 36% of gross income
- Lenders may approve up to 43% DTI for qualified borrowers
- Higher down payment = higher affordable price
- Interest rates significantly impact affordability
- Don't forget taxes, insurance, and HOA in calculations
- Pre-approval gives more accurate affordability than calculators
Why Use Our House Affordability Calculator?
Affordability analysis:
Price Calculator
Calculate maximum affordable home price.
DTI Analysis
See how debt affects affordability.
Payment Breakdown
View estimated monthly costs.
Scenario Planning
Test different down payments and rates.
Instant Results
Get calculations immediately.
Private
Your data stays secure.
How to House Affordability Calculator in 3 Easy Steps
Calculate affordability:
Enter Income
Input your gross annual income.
Add Debts
Include monthly debt payments.
View Results
See affordable home price range.
Why Use Our Calculator?
Know your budget
Avoid overbuying
Plan down payment
Shop confidently
Common Use Cases for House Affordability Calculator
Perfect for:
Frequently Asked Questions
Everything you need to know about our house affordability calculator
How much house can I afford?
Typically 3-4.5x income - use calculator with your debts and down payment for accuracy.
Generally 3-4.5x your annual income, depending on debts, down payment, and rates. Our calculator uses the 28/36 rule and your specific inputs for accurate results.
What is the 28/36 rule?
Housing under 28% of income, total debt under 36% - conservative lending guideline.
Housing costs (mortgage, taxes, insurance) should be under 28% of gross income. Total debt payments should be under 36%. Some lenders allow higher ratios.
Should I buy less than I can afford?
Often wise - leaves room for savings, lifestyle, and emergencies.
Often yes. Maximum affordability doesn't account for lifestyle, savings goals, or financial emergencies. Consider buying below max for financial flexibility.
Still have questions? Try the tool yourself!
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