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About the house affordability calculator
Before you look at homes, it helps to know your top price. This calculator starts from your income, not from a home price. It finds the most you can pay each month for the home, and then the home price that fits that monthly amount.
It uses the common lender rules: your housing cost should stay under a part of your income (for example 28%), and all your debts together, housing included, under a bigger part (for example 36%). The lower of the two sets your budget.
The monthly cost includes the loan (principal and interest), property tax, home insurance, monthly fees and, on English pages, mortgage insurance when you put down less than 20%.
Features
- Home price you can afford — from your income, debts, down payment and interest rate
- Three lender rules — choose How careful: 28% / 36%, 31% / 43% or 35% / 45%
- Full monthly cost — principal and interest, property tax, home insurance and fees, plus mortgage insurance when you put down less than 20%
- What limits the price — see if your debts or the housing share sets your budget
- Rate table — the price you can afford at your rate and at 0.5% and 1% lower or higher
- Loan term from 10 to 35 years, and More options for property tax, insurance and fees
- 47 currencies — pick your Currency; the choice is remembered and used by the other money tools too
- Private and saved — it all works in your browser, nothing is uploaded, and your numbers stay on this device for next time
How to use it
- Type your Income before tax, per year
- Type your Debt payments per month — car loans, student loans, card minimums. Do not add rent
- Type your Down payment as an amount
- Set the Interest rate per year and the Loan term
- Choose How careful: Careful (28% / 36%), Normal (31% / 43%) or Stretch (35% / 45%)
- Open More options to change property tax, home insurance and fees
Example with the starting numbers
Income $90,000 a year, debts $500 a month, $40,000 down, 6.5% for 30 years, property tax 1.1%, insurance $1,500 a year, rule Careful — 28 % / 36 %:
| Result | Amount |
|---|---|
| Home price you can afford | $293,244 |
| Per month for the home | $2,100 |
| Loan amount | $253,244 |
| Principal and interest | $1,600.67 |
| Property tax | $268.81 |
| Home insurance | $125.00 |
| Mortgage insurance | $105.52 |
| Down payment, as part of the price | 14% |
Your income per month is $7,500. 28% of it is $2,100. 36% is $2,700, minus $500 of debts leaves $2,200. The smaller number, $2,100, wins, so the housing share is what limits the price.
Home price by income
Same settings as above ($500 debts, $40,000 down, 6.5%, 30 years, Careful rule):
| Income per year | Per month for the home | Home price you can afford | What limits it |
|---|---|---|---|
| $50,000 | $1,000 | $155,834 | your debts |
| $70,000 | $1,600 | $227,919 | your debts |
| $90,000 | $2,100 | $293,244 | the housing share |
| $120,000 | $2,800 | $384,699 | the housing share |
| $150,000 | $3,500 | $476,155 | the housing share |
How the interest rate changes your price
The calculator also shows a small table with your rate 1% lower and higher. With the starting numbers:
| Interest rate | Home price you can afford |
|---|---|
| 5.5% | $316,462 |
| 6.0% | $304,480 |
| 6.5% | $293,244 |
| 7.0% | $282,706 |
| 7.5% | $272,819 |
Each 0.5% on the rate moves your price by about $10,000 to $12,000, with the same monthly budget.
How debts lower your price
With an income of $90,000, the debts do not matter until they pass $500 a month. After that, every dollar of debt is one dollar less for the home:
| Debt payments per month | Home price you can afford |
|---|---|
| $0 | $293,244 |
| $500 | $293,244 |
| $1,000 | $240,984 |
| $1,500 | $183,469 |
Paying off a car loan can raise your price more than a bigger down payment. The Debt-to-Income Ratio Calculator shows where you stand.
Frequently asked questions
How much house can I afford on my salary?
A common guide is a monthly housing cost of up to 28% of your income before tax, and all debts up to 36%. With $90,000 a year, $500 of debts and $40,000 down at 6.5%, that is about $293,000. Type your own numbers to see yours.
What is the 28/36 rule?
It says your housing cost should be at most 28% of your monthly income before tax, and your housing plus all other debt payments at most 36%. It is the Careful choice in the calculator.
Which "How careful" choice should I pick?
Careful leaves room for saving and surprises. Normal and Stretch are closer to the most some lenders allow. A lender saying yes does not mean the payment is easy to live with.
Does the price include closing costs?
No. The Down payment is the cash that goes into the home price. Keep extra money for closing costs, moving, repairs and an emergency fund.
Why does mortgage insurance appear?
On English pages, when your down payment is under 20% of the price, the calculator adds mortgage insurance at 0.5% of the loan per year, as is common in the USA. A bigger down payment removes it.
Is this financial advice?
No. It is a planning guide based on common lender rules. Your real limit, rate and fees come from your lender.
Good to know
- Works with any currency — choose it at the top
- Your numbers are saved only in this browser
- Nothing you type is sent anywhere
Related tools
- Mortgage Calculator — the monthly payment for one home price
- Debt-to-Income Ratio Calculator — the ratio lenders check
- Rent vs Buy Calculator — is buying worth it for you?
- Rent Affordability Calculator — how much rent fits your income
- Emergency Fund Calculator — cash to keep after you buy
