Home Affordability Calculator (28/36 Rule)
The house price your income truly supports — front-end and back-end ratios, honestly applied.
Formula
Disclaimer: Indicative math — lender policies, state charges and market rents vary. Verify locally; not financial advice.
Disclaimer: This tool is for general informational and estimation purposes only and is not professional financial, tax, accounting or legal advice. All figures are estimates — verify with a qualified professional before making decisions. Read the full disclaimer.
Need home affordability calculator results fast? Skip the spreadsheet and get a clear, defensible answer in one step — free, private and instant, recalculating live as you change any input.
About Home Affordability Calculator (28/36 Rule)
The 28/36 rule remains underwriting's skeleton: housing costs within 28% of gross monthly income (front-end), ALL debts within 36% (back-end) — whichever binds. The defaults ($120k income, $600 of debts, $60k down at 6.6%) afford roughly a $390-420k home with a ~$2,800 monthly all-in payment, solved properly with taxes and insurance inside the cap rather than bolted on after. Notice which constraint binds you: with light debts the 28% front-end rules; with car payments and student loans the back-end bites first — at the defaults, every $100 of monthly debt costs about $15,000 of house. That exchange rate makes pre-purchase debt payoff a literal home upgrade, and explains why lenders scrutinize your car lease like it's a second mortgage. Reality adjustments the rule skips: HOA dues belong inside the cap (enter them mentally via the tax/ins field), PMI below 20% down adds 0.3-1% of the loan annually, high-tax states (NJ/IL/TX) shift the tax slider dramatically, and maintenance (~1%/year) lives outside any lender math but inside your life. Qualified ≠ comfortable: buying at 24-25% front-end instead of 28% is the difference between a home and a house-shaped budget.
How to use Home Affordability Calculator (28/36 Rule)
- 1Enter Gross annual household income, Monthly debt payments (cars, students, cards), Down payment saved, Mortgage rate (%), Property tax + insurance (% of price/yr) into the Home Affordability Calculator.
- 2The result is computed automatically using Housing payment cap = min(28% of gross income, 36% − debts) ; price solves P&I(price − down) + tax/ins = cap — there is no button to press; it updates live as you type.
- 3Change any input to model a different scenario, then use “Copy result link” to share the exact numbers.
Why use Home Affordability Calculator (28/36 Rule)?
- ✓Computes home affordability calculator instantly with the correct formula — no spreadsheet needed
- ✓100% free and unlimited, with no sign-up, login or paywall
- ✓Runs entirely in your browser, so the figures you enter are never uploaded or stored
- ✓Shows the formula, a live worked example and references so you can defend the number
Frequently asked questions
How much house can I afford on $100k?+
With modest debts and ~15% down at recent rates: roughly $320-360k (the 28% front-end binding at ~$2,330/month all-in). Heavy student/car payments pull it down fast via the 36% back-end. Run YOUR debts above — the generic '3-4× income' folklore swings wildly with rates and is wrong at both extremes.
Do lenders actually still use 28/36?+
As a skeleton: conventional underwriting commonly stretches back-end DTI to 43-50% with compensating factors (credit, reserves), FHA further. But 'what the lender allows' and 'what won't own you' differ — the 28/36 frame survives because households above it report stress consistently. Use lender generosity for flexibility, not as a target.
Should I include my partner's income if we're not married?+
Lenders allow joint applications regardless of marriage — both incomes count, both credit profiles matter (the WORSE score often prices the loan), and both names go on the hook. The bigger question is legal: unmarried co-buyers need a cohabitation/property agreement covering exit scenarios. Affordability math is the easy part.
Rate ka asar kitna bada hai affordability par?+
Bahut bada: defaults par 6.6% → 5.6% hone se affordable price ~9-10% badh jaata hai (same payment me zyada loan samaata hai). Isi liye rate-drop cycles me prices chadhte hain — sab ki affordability ek saath badhti hai. Practical: rate-lock shopping (3 quotes) 0.25-0.4% bacha leti hai = $12-18k of price.
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