Free Home Affordability Calculator — How Much House Can You Afford?
Find out how much house you can afford based on your income, debts, and down payment using the standard 28/36 DTI rule used by lenders. Our free home affordability calculator factors in property taxes, homeowners insurance, PMI, and HOA fees to give you a realistic maximum home price.
Choose between conservative (28/36), FHA (31/43), or aggressive (33/45) DTI guidelines. See your monthly payment breakdown, front-end and back-end DTI ratios with visual progress bars, and compare affordability across different income levels. Current 2025-2026 housing market data included. All calculations run in your browser — no data stored, no signup required.
How to use Home Affordability Calculator
- Enter your annual gross income — This is your total pre-tax household income. The calculator uses this to determine your maximum housing payment based on DTI ratios.
- Add monthly debt payments — Include car loans, student loans, credit card minimums, and any other recurring debts. These affect your back-end DTI ratio.
- Set your down payment — Enter the total down payment you can make. If below 20% of the home price, PMI will be estimated automatically.
- Choose DTI rule — Select Conservative (28/36) for the standard lender guideline, Moderate (31/43) for FHA-style limits, or Aggressive (33/45) for maximum purchasing power.
- Review your results — See the maximum home price you can afford, monthly payment breakdown, DTI ratios, and total cost over the loan term.
Features
- 28/36 Rule — Industry-standard debt-to-income calculation used by mortgage lenders
- DTI Ratio Visualization — Color-coded progress bars showing your front-end and back-end ratios
- PMI Estimation — Automatic private mortgage insurance calculation when down payment is under 20%
- Income Comparison Table — See how much home you can afford at different salary levels
- Market Data — Current 2025-2026 median home prices, mortgage rates, and conforming loan limits
Frequently Asked Questions
What is the 28/36 rule?
The 28/36 rule is a lending guideline that says no more than 28% of your gross monthly income should go toward housing costs (mortgage, taxes, insurance, PMI, HOA) — the front-end ratio. No more than 36% should go toward total debt payments (housing plus car loans, student loans, credit cards) — the back-end ratio. Most conventional lenders use this as a baseline.
How much house can I afford on a $100K salary?
At $100,000 annual income with the 28/36 rule, a 5.98% rate, 30-year term, and 20% down, you can typically afford a home around $355,000–$370,000. This assumes no significant existing debts. With FHA guidelines (31/43), your purchasing power increases to approximately $400,000–$420,000.
What is PMI and when do I pay it?
Private Mortgage Insurance (PMI) is required when your down payment is less than 20% of the home price. It protects the lender if you default. PMI typically costs 0.5%–1% of the loan amount annually. Once you reach 20% equity, you can request PMI removal. Our calculator estimates PMI at 0.5% annually when applicable.
What percentage of income should go to mortgage?
The standard recommendation is no more than 28% of gross monthly income for total housing costs. However, FHA allows up to 31%, and some lenders approve up to 33% with strong credit and compensating factors. Financial advisors often recommend keeping it at 25% or below for more financial flexibility.