Does the budget include tax and insurance?
The 28/36 rule counts them, so take your expected tax and insurance out of the monthly budget to see the part left for the loan.
Home Affordability Calculator
How much house you can afford.
You can afford about
$0- Monthly budget
- $0
- Loan amount
- $0
- Down payment
- $0
How it’s calculated
- Budget = lower of 28% of monthly income, or 36% minus debts
- Loan = budget × (1 − (1 + rate)^−months) ÷ rate
- Price = loan + down payment
Example: On $100,000 a year with $500 of debts and $40,000 down at 6.5%, the budget is $2,333 a month, which supports about $409,159.
About the Home Affordability Calculator
The home price your income supports under the 28/36 rule.
How to use this tool
- Enter your income and debt payments.
- Enter your down payment.
- Enter a rate and loan length.