Free Home Affordability Calculator
Find out how much house you can afford based on your income, down payment, and monthly debts. This calculator uses the standard 28/36 debt-to-income rule that most mortgage lenders follow to determine your maximum home price.
Affordability Calculator
Affordability Score ($85K Income)
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About the Home Affordability Calculator
A home affordability calculator helps you determine how much house you can realistically afford. Based on your income, debts, down payment, and current interest rates, it uses the standard 28/36 debt-to-income (DTI) rule that most lenders follow.
Quick Start Guide
- Enter your values — Fill in the fields with numbers relevant to your home affordability calculation. Most fields include sensible defaults.
- Adjust settings — Change options like units, rates, or timeframes to match your specific scenario.
- Review results — The output shows a clear breakdown so you understand how the total was calculated.
How It Works
Front-end DTI (28%): housing costs (PITI) should not exceed 28% of gross monthly income. Back-end DTI (36%): total debts including housing should not exceed 36% of gross income. The calculator also accounts for PMI, property taxes, and homeowner's insurance.
Current Market Data
| Metric | Value | Source | Date |
|---|---|---|---|
| Median US Home Price | $412,000 | NAR / Zillow | Q1 2026 |
| Median 30-Year Fixed Rate | 6.50% | Freddie Mac PMMS | June 2026 |
| Median Household Income | $80,610 | US Census Bureau | 2025 |
Real-World Example
Scenario: Determining affordability with $90,000 annual income
- Annual income: $90,000 ($7,500/month).
- Down payment: $40,000 saved.
- Monthly debts: $450 (car loan + credit cards).
- Interest rate: 6.5% APR.
Who Is This For?
This home affordability calculator is designed for Home buyers and investors comparing purchase scenarios, evaluating affordability, and understanding the true cost of homeownership.. It's intentionally simple — no complex signup forms, no data tracking, no distractions. Just enter your numbers and get the answer.
Pro Tip
Factor in all costs of ownership — property taxes, insurance, maintenance, and HOA fees — not just the mortgage payment.
Things to Know
The home affordability calculator provides instant, accurate results based on standard formulas and the values you enter. Whether you are planning a financial decision, tracking a health metric, or solving a practical problem, this tool gives you the numbers you need without requiring signup or account creation.
How to get the best results: Use accurate, up-to-date inputs for the most reliable calculations. When planning ahead, run multiple scenarios with different assumptions to understand the range of possible outcomes.
Note: This tool is designed for educational and planning purposes. For critical financial, medical, or legal decisions, always verify the results with a qualified professional who can evaluate your specific circumstances.
Download Resources
Free templates and worksheets to help you get the most from this tool.
Sources & References
Explore More Real Estate & Mortgages
These related tools work well alongside the home affordability calculator:
Frequently Asked Questions
Can I buy a home if I have student loans?
Yes. Student loan payments are included in your debt-to-income calculation. The lender will use your minimum monthly payment (or 0.5% of the balance if no payment is required). Focus on keeping your total DTI below 43% for most loan programs.
How accurate are the results?
Results are based on standard formulas and the values you enter. They are accurate for educational and planning purposes.
Is this tool really free?
Yes, completely free. No signup, no hidden charges, no usage limits. Use it as often as you need.
Can I share the results?
Yes. You can take a screenshot or share the page link with anyone. The tool works the same for everyone.
How to Use the Home Affordability Calculator
Enter your annual household income before taxes, your down payment amount, and your monthly debt payments. Enter the interest rate and loan term, plus annual property taxes and homeowner's insurance.
The calculator applies the 28/36 rule: your monthly housing costs should not exceed 28% of your gross monthly income (front-end ratio), and your total debt payments should not exceed 36% (back-end ratio).
Home Affordability Formula
Back-End Limit = (Monthly Income - Monthly Debts) x 0.36
Your maximum monthly payment is the lower of these two limits. The calculator then works backward using the standard amortization formula to determine the maximum loan amount.