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Home Affordability

Mortgage lenders use two primary rules to determine how much house you can afford: the 28% front-end rule (housing costs should not exceed 28% of gross monthly income) and the 36% back-end rule (all debt payments should not exceed 36% of gross income). Our affordability calculator applies both rules to your income and existing debts to give you a maximum purchase price and a recommended price range.

Prix maximum de la maison

$

Paiement mensuel maximum :$
Montant maximum du prêt :$
28/36 Rule Applied:Oui
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Real Estate

À propos de Home Affordability Calculator

Mortgage lenders use two primary rules to determine how much house you can afford: the 28% front-end rule (housing costs should not exceed 28% of gross monthly income) and the 36% back-end rule (all debt payments should not exceed 36% of gross income). Our affordability calculator applies both rules to your income and existing debts to give you a maximum purchase price and a recommended price range.

Comment l'utiliser

  1. Enter your gross monthly household income.
  2. Enter existing monthly debt payments: student loans, car payment, credit cards.
  3. Enter your available down payment and estimated property tax rate.
  4. See the maximum home price under each rule, and a recommended "comfortable" price.

Formule et méthodologie

Max housing payment (28% rule) = Gross monthly income × 0.28. Max total debt (36% rule) = Gross monthly income × 0.36. Max housing under 36% rule = Max total debt − Existing monthly debts. Max purchase price from payment: P = PMT × ((1+r)^n − 1) / (r(1+r)^n).

Cas d'usage courants

  • Setting a realistic home search budget before shopping
  • Understanding why existing debt reduces buying power significantly
  • Modeling what a down payment size does to max purchase price
  • Stress-testing affordability at higher interest rates
  • Comparing 20% vs 10% down payment impact on affordable price range

Questions fréquentes

Most conventional lenders cap back-end DTI at 43–45%. FHA loans allow up to 57% with compensating factors. Some lenders use 36% as a guideline but will go higher for strong credit and assets. Your number includes the proposed housing payment in the calculation.
No — lender limits are ceilings, not targets. Building a 20% buffer below the max gives you room for income changes, emergencies, and cost of living surprises. The "comfortable" range in this calculator targets 25% front-end rather than 28%.

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