Estimate the home price you can afford using the 28/36 debt-to-income rule, based on your income, debts, down payment and rate.
Informational only — not financial advice. This calculator provides general estimates for educational purposes and does not account for every factor in your situation. It is not financial, investment, tax, or legal advice. Figures are estimates and may not reflect current rates. Consult a qualified professional before making financial decisions.
The classic 28/36 rule is the fastest way to gauge how much house you can afford. It says your housing payment should stay under 28% of your gross monthly income (the "front-end" ratio), and your total debt payments — housing plus car loans, student loans, credit-card minimums — should stay under 36% (the "back-end" ratio).
This calculator takes the smaller of those two limits as your monthly housing budget, then works backward through the amortization formula (accounting for taxes and insurance) to estimate the home price that fits. It's a planning estimate, not a pre-approval.
If you carry other debt, the 36% back-end limit usually binds first — every dollar of car or student-loan payment reduces what's left for a mortgage. Paying down other debts before you shop can meaningfully raise your home budget. Lenders may approve you above these ratios, but borrowing to the max leaves little cushion for repairs, rate changes, or a lost income.