Mortgage Affordability Calculator
Find out how much house you can realistically afford based on your income, down payment, and the 28/36 rule that most mortgage lenders use.
Mortgage Affordability Calculator
Based on the 28/36 rule used by most mortgage lenders.
Estimated Max Home Price
$273,137
Loan amount: $253,137 • Down payment: $20,000
Principal & Interest
$1,600
Est. Property Tax
$273
Homeowner's Ins.
$150
Total Monthly (PITI)
$2,023
* Estimates only. Actual amounts depend on credit score, lender, and local taxes. Consult a mortgage professional.
The 28/36 Rule Explained
Lenders typically use the 28/36 rule: your housing costs (PITI — principal, interest, taxes, insurance) should not exceed 28% of your gross monthly income, and your total debt payments should not exceed 36% of gross income.
What Counts as PITI?
PITI includes your principal and interest payment, property taxes, homeowner's insurance, and PMI (if your down payment is less than 20%). HOA fees are often included as well.
Other Factors Lenders Consider
Beyond the 28/36 rule, lenders look at your credit score, employment history, debt-to-income ratio, and loan type. A credit score of 740+ typically gets you the best mortgage rates, saving thousands over the life of the loan.