Free tool
Home affordability calculator
How much house can you actually afford? Enter your income, down payment, and loan details, and we'll apply the lender-standard 28/36 rule to estimate your max home price, your max loan, and the monthly payment behind it.
Your numbers
You could afford a home around
- Max home price
- $299,394
- Max loan amount
- $259,394
- Estimated monthly payment
- $2,100
- Principal & interest$1,726
- Taxes & insurance$374
You're limited by the 28% housing rule — your housing costs hit the ceiling before your total debts do.
Based on the 28/36 rule: your estimated payment of $2,100 stays within $2,100 of monthly housing budget. The payment covers principal & interest plus property taxes and insurance, but excludes PMI, HOA dues, and maintenance. Results are estimates for planning, not financial advice.
How the 28/36 rule works
The 28/36 rule is the shorthand lenders use to judge what you can comfortably borrow. The front-end ratio caps your total monthly housing payment — principal, interest, property taxes, and insurance — at 28% of your gross monthly income. The back-end ratio caps all your monthly debt payments combined at 36%. Whichever limit you hit first sets your ceiling, which is why paying down a car loan or credit card can sometimes raise how much home you qualify for.
What's included — and what's not
The monthly payment here covers principal and interest on the mortgage plus property taxes and homeowners insurance. It does not include PMI (common with less than 20% down), HOA dues, utilities, or maintenance — so leave room in your budget for those. Once you have a target price, run the exact numbers with our mortgage payment calculator or sanity-check a specific payment against your budget using can I afford it?
Make the down payment work harder
A larger down payment lowers your loan, your monthly payment, and often your rate — and getting to 20% lets you skip PMI entirely. Even a modest bump can push your affordable price higher. See what a given loan costs each month with a worked example like the payment on a $300,000 mortgage.
A quick planning note
These results are estimates for planning, not financial advice. Actual approval depends on credit, full underwriting, PMI, and local tax and insurance rates. Treat the number as a target to refine with a lender, not a guarantee.
Frequently asked questions
How much house can I afford on a $90,000 salary?
Using the 28/36 rule, a $90,000 gross salary is $7,500 a month, so housing should stay under about $2,100 (28%) and total debt under about $2,700 (36%). With a $40,000 down payment, a 7% rate over 30 years, and typical taxes and insurance, that supports a home roughly in the high-$300,000s — but the exact figure depends on your other monthly debts, your rate, and local tax and insurance costs. Enter your own numbers above for a tailored estimate.
What is the 28/36 rule?
It's a guideline lenders use to gauge what you can comfortably borrow. The front-end ratio says your total monthly housing payment — principal, interest, property taxes, and insurance — should not exceed 28% of your gross monthly income. The back-end ratio says all of your monthly debt payments combined (housing plus car loans, student loans, credit cards, and so on) should not exceed 36%. Whichever limit you hit first sets your ceiling.
What costs are included and excluded?
This calculator's monthly payment includes principal and interest on the mortgage plus property taxes and homeowners insurance, estimated as a percentage of the home's value. It excludes private mortgage insurance (PMI), homeowners association (HOA) dues, utilities, and ongoing maintenance — all of which can add meaningfully to your true monthly cost, so budget for them separately.
Is this financial advice?
No. It's a planning estimate based on the figures you enter and standard lending ratios. It does not account for your full financial picture, loan-specific underwriting, PMI, or local cost variations. Use it as a starting point and confirm details with a lender.