House Affordability Calculator
Estimate how much house you can afford based on your income, debts, down payment, and current interest rates. Uses the 28% front-end DTI rule.
How to Use the House Affordability Calculator
- Enter the required values in the input fields.
- The result is calculated and displayed automatically.
- Copy the result or review the detailed breakdown.
- Adjust inputs to explore different scenarios.
Use Cases
- •Performing quick calculations without manual math.
- •Verifying results from other sources or calculations.
- •Learning new concepts with an interactive calculation tool.
- •Saving time with instant automated computations.
Formula
Max monthly payment = (Annual income / 12) × 0.28 − Monthly debts. Max loan = PMT × ((1+r)^n − 1) / (r × (1+r)^n). Max home price = Max loan + Down payment.
Frequently Asked Questions
How to use?
Enter the data and click the calculate button.
What is the 28% rule?
Lenders typically recommend spending no more than 28% of your gross monthly income on housing costs (front-end debt-to-income ratio).
Is it free?
Yes, all calculators are completely free.