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
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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.
Can I trust the results from the Mortgage Affordability Calculator?
Yes, the Mortgage Affordability Calculator uses the standard 28/36 rule relied upon by most lenders to give you a realistic borrowing limit.
Does the Mortgage Affordability Calculator include HOA fees?
This version of the Mortgage Affordability Calculator focuses on principal, interest, and standard debts. Always manually account for HOA fees in your budget.