How this works
Lenders typically start from the 28/36 rule. Your monthly housing cost (principal, interest, property taxes, insurance and HOA dues) should stay within 28% of your gross monthly income, and your housing cost plus your other monthly debt payments within 36%. The calculator takes whichever limit is lower and solves for the price whose payment fits it, with your down payment and rate.
Many loan programs allow more than 36% (FHA and some conventional loans go higher with strong credit or reserves), so treat this as a starting point for the conversation with a lender, not a ceiling.
Questions
How much house can I afford?
A common starting point is the 28/36 rule: housing costs within 28% of gross monthly income and all debts within 36%. This calculator solves for the price that fits both.
Does this include PMI?
No. With less than 20% down, private mortgage insurance adds to the payment; the mortgage calculator includes an estimate of it.