How Much House Can I Afford ?

How much House can I afford ?

Quickly calculate how much house you can afford with our online mortgage calculator.
It is easy to use:Just enter your income, potential mortage interest rate, and expenses to find out how much home you can afford. Change the default income setting with your own income number and just press enter. Easy!
For more Mortgage Calculators, please see our page ‘Mortgage Calculator with Taxes and Insurance’ on this website.


This is how we calculate:

We take your gross income number and incorporate the golden rule, that your monthly housing allowance should be no more than 28% of your monthly income. Most banks/lenders will finance buyers whose monthly house payment (including property taxes, loan payment, and insurance) will not exceed 28 percent of their gross monthly income.

Other debts, like student loans, credit card debts, car payments or other monthly financial obligations are taken into consideration, via the ‘monthly debts’ field. This ensures that the total monthly obligations, including your house payments, are less than 36% of your monthly income. A lender typically wants this amount to be less that 36% of your income, in order to give you a mortgage. This is called the debt-to-income ratio.
You can aslo choose, whether to include annual property taxes, insurance and PMI in the calculations under the ‘Advanced’ tab.
also, for a mortgage calculator for monthly payments and amortization schedules, see our FREE mortgage calculator with taxes and insurance

For FREE advice on How to Buy a House, a First Time Home Buyer Guide and Programs, plus a Mortage Glossary, please see the following pages on this site:

  • First Time Home Buyer Programs & Grants
  • First Time Home Buyer Tips
  • How Much House Can I Afford ? (Reverse Mortgage Calculator)
  • How much house can I afford based on my income
  • How much mortgage can I afford ?
  • Mortgage Calculator with Taxes and Insurance and PMI.
  • Mortgage Glossary

Feel free to use our calculators as much as you want. They are FREE!

Current Mortgage Rates Chart:

Good luck with your new home!