How Much House Can I Afford?
Enter your monthly budget to estimate the maximum home price you can afford.
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How Much House Can You Afford?
Lenders commonly use the 28% rule: your monthly housing payment should stay under 28% of your gross monthly income. This calculator works backwards from a monthly payment you are comfortable with to the maximum loan and home price.
The Reverse Formula
Max Loan = Payment × ((1+r)ⁿ − 1) ÷ (r(1+r)ⁿ)
Add your down payment to get the maximum home price.
Don't Forget the Extras
The result covers principal and interest. Property tax, insurance, PMI and HOA all come on top, so leave headroom — a good rule is to keep total PITI under your target budget, not just P&I.
Frequently Asked Questions
A common guideline is that your total monthly housing payment should not exceed 28% of your gross monthly income. Enter a comfortable monthly payment and this tool estimates the home price it supports.
The 28/36 rule says housing costs should stay under 28% of gross monthly income, and total debt (including the mortgage) under 36%.
The estimate is based on principal and interest. Budget for property tax, insurance, PMI and HOA on top, which lowers the home price you can truly afford.
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