Use this mortgage affordability calculator to estimate the maximum home price you can afford. Based on the widely used 28/36 rule — your housing costs should not exceed 28% of gross monthly income.
Mortgage Affordability Calculator
Your Results
Enter your details to see results.
How to Use This Calculator
Enter your annual income, existing monthly debt payments, down payment, interest rate, and loan term, then click Calculate.
- Annual Income — your pre-tax household income.
- Monthly Debt Payments — car loans, student loans, credit cards etc.
- Down Payment — the amount you plan to put down upfront.
- Interest Rate — the mortgage APR you expect to qualify for.
Frequently Asked Questions
What is the 28/36 rule?
It says housing costs should stay under 28% of gross income, and total debt under 36%.
Is this calculator accurate for the UK?
The formula is universal. UK buyers should note stamp duty and surveys add to upfront costs.
Should I include property tax in the calculation?
This calculator does not include tax or insurance — add those to get a full picture.