How Much House Can I Afford?
Use our free Mortgage Affordability Calculator to find out how much home you can afford based on your income, debt, interest rate, and down payment. Whether you’re a first-time homebuyer or planning to upgrade, this tool helps estimate a realistic budget before you start house hunting.
What Affects Affordability?
- Monthly Income: Your gross (before tax) income is a key factor.
- Monthly Debts: Includes credit cards, auto loans, student loans, etc.
- Down Payment: A higher down payment reduces your loan amount.
- Interest Rate & Loan Term: A lower interest rate or shorter loan can save you money.
Tip: Most lenders use the 28/36 rule — meaning no more than 28% of your income should go to housing, and no more than 36% to total debt.