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How much house can I afford?

The price your income supports by the 28/36 rule lenders start from, at this week’s average rate.

You could afford about $407,000 A monthly housing cost of up to $2,800.
Lenders start from the 28/36 rule: housing costs within 28% of gross monthly income, and all debts within 36%. Your lender, loan type and credit decide the real figure. Next: get pre-approved · selling first? see your net proceeds

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.

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