Estimate the home price you can afford based on your income, debts, down payment, and loan terms.
Frequently Asked Questions
What is the 28/36 rule?
A common affordability guideline: your housing payment shouldn't exceed 28% of gross monthly income (front-end ratio), and total debt payments including housing shouldn't exceed 36% (back-end ratio).
Why does this calculator ask for property tax and insurance?
Lenders qualify you based on total monthly housing cost (principal, interest, taxes, and insurance), not just the loan payment, so subtracting an estimate for taxes and insurance gives a more realistic loan amount.
How does a larger down payment change affordability?
A larger down payment directly increases the home price you can afford, dollar for dollar, without changing your monthly payment.