Mortgage Affordability Calculator
See how much house you can afford based on the standard 28/36 rule: housing costs should be at most 28% of your gross monthly income, and total debt payments at most 36%. Enter your income, down payment, debts and rate to get the maximum monthly payment, loan amount and home price you'd qualify for.
How to use
- 1
Enter your income and debts
Gross annual income (before tax), down payment, and monthly debt payments (car, student loans, credit card minimums).
- 2
Set the loan assumptions
Interest rate, term in years, and your best estimates for annual property tax, insurance and HOA dues.
- 3
Read the maximums
The tool shows the max monthly P&I, max loan principal and max home price you'd qualify for under the 28/36 rule.
- 4
Check the binding constraint
If your existing debts are high, the 36% rule will bind before the 28% rule — the tool shows which one is limiting you.
Common use cases
- Set a realistic price ceiling before you start house-hunting.
- See how paying off a car loan first would increase your buying power.
- Compare a 15-year vs 30-year mortgage's effect on affordability.
Limitations
- This calculator produces an estimate only and is not professional real-estate, tax, accounting or investment advice. Stamp-duty brackets, tax rules and fees vary by jurisdiction and change frequently — always confirm current rates with your conveyancer, tax office or financial advisor before signing anything.
- The 28/36 rule is a traditional guideline — many lenders now allow up to 43–50% DTI for qualified buyers. Your actual pre-approval may differ.
- PMI (required below 20% down), closing costs and reserves are not modelled. Add PMI to monthly debts for a more conservative estimate.
- The tool assumes a fixed-rate amortising loan. ARMs, interest-only and balloon loans are not supported.