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How Much House Can I Afford?

How much house can I afford?

Enter your income, debts, down payment and mortgage rate and see the highest home price that fits, and how the answer changes.

One Click Answers · How Much House Can I Afford?
oneclickanswers.com/how-much-house-can-i-afford · Printed
About this tool & how to use it

What it does

See the highest home price that fits common limits on housing cost and total debts for your income, down payment and mortgage rate, and how rates and down payments change it.

How to use it

  1. Enter your yearly income before taxes, your other monthly debt payments and your down payment.
  2. Enter the mortgage rate and length. Open "More costs and options" for property tax, insurance, HOA fees and the income shares.
  3. Press "Get a detailed answer" for the full breakdown, charts, side-by-side scenarios and a plain-language explanation of how the answer was worked out.

Everyone who will be on the loan, added together. Used only on this page; never sent or saved.

Car loans, student loans, credit card minimums. Do not include rent or the new housing payment.

Cash you will put toward the home. A larger one lets the same payment buy a pricier home.

Use a rate you have been quoted. 6.5 is a placeholder, not a quote.

More costs and options

Look up the rate for the area. 1.1 is a placeholder.

A common guideline is 28%. Change it to match your own comfort or a lender's limit.

Housing plus the other debts above. A common guideline is 36%. Some lenders allow more.

Only used to show the cash needed up front.

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Assumptions

  • The income shares, property tax, insurance, HOA and rate are placeholders or your own numbers.
  • Left out: mortgage insurance (usually required with under 20% down), utilities, repairs and changes in your income.
  • The mortgage is fixed-rate with equal monthly payments.
  • Everything you enter, including any income or budget, is worked out in your browser and is never sent anywhere or saved.

Printed from oneclickanswers.com. Results are estimates based on what was entered; see the assumptions above.

How we calculated this

Two monthly limits come from your income before taxes: a share for housing (28% by default) and a share for housing plus other debts (36% by default, less your debts). The smaller limit applies.

The housing cost is the mortgage payment (the same calculation as the Mortgage Payment calculator) plus property tax, homeowners insurance and HOA fees.

The page finds the highest price, in whole $100 steps, whose housing cost fits under the limit, and shows the payment at that price, the cash needed up front and how the price changes with the mortgage rate and the down payment.

It shows where common guidelines land. A lender sets its own limits and also looks at your credit and savings.

Formulas and details
  • Housing limit = housing share x gross monthly income. All-debts limit = debts share x gross monthly income - other monthly debts. Limit = the smaller.
  • Housing cost = mortgage payment + price x tax rate / 12 + insurance / 12 + HOA.
  • Mortgage payment = loan x r / (1 - (1 + r)^-n), with r = rate / 12 and loan = price - down payment.
  • Highest price = the largest price in $100 steps whose housing cost is no more than the limit.

Assumptions

  • The income shares, property tax, insurance, HOA and rate are placeholders or your own numbers.
  • Left out: mortgage insurance (usually required with under 20% down), utilities, repairs and changes in your income.
  • The mortgage is fixed-rate with equal monthly payments.
  • Everything you enter, including any income or budget, is worked out in your browser and is never sent anywhere or saved.

Example

Input: $95,000 a year of income, $500 a month of other debts, $60,000 down, a 6.5% 30-year mortgage, 1.1% property tax and $1,500 a year of insurance

Result: Under these limits, the highest home price that fits is about $341,400, a mortgage of $281,400 and a monthly housing cost of about $2,216.59, set by the 28% housing limit.

Questions

What are the 28% and 36% numbers?

Common guidelines: housing should use no more than about 28% of your income before taxes, and all debts no more than about 36%. Lenders set their own limits, and you can change the shares here.

Is this a mortgage approval?

No. It shows where two guidelines land for the numbers you enter. A lender decides based on your full application.

Why does a bigger down payment raise the price?

It lowers the amount borrowed, so more of the same monthly limit is left for the price.

Does the price include mortgage insurance?

No. With less than 20% down it is usually required and would lower the price that fits.

Last reviewed 2026-10-09. Report an incorrect result

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