House Affordability
Lenders use the 28/36 rule. Here's what it says about you.
Estimates only — not financial advice or a pre-approval. Lenders weigh credit, reserves, and more.
How to find your affordable home price
- Enter gross annual income (before taxes) and your current monthly debt payments.
- Add your down payment and today's mortgage rate and term.
- Press Calculate. The 28% and 36% caps are computed; the lower one wins.
- Aim below the max. The 'comfortable target' (90%) leaves breathing room for life.
Frequently asked questions
What is the 28/36 rule?
Lenders like housing costs at or under 28% of gross monthly income, and total monthly debts (housing plus car, student, credit-card minimums) at or under 36%.
Which rule usually limits me?
The 36% rule, if you carry meaningful debt. With zero debt, the 28% housing cap binds instead.
Does this include property tax and insurance?
Yes — the budget covers PITI (principal, interest, tax, insurance), which is what lenders actually measure.
Is the max price a pre-approval?
No. It's the same math lenders start from, but real pre-approvals also weigh credit score, reserves, and income history.
Should I buy at my max?
Most advisors say no — buying 10–20% under your max leaves room for maintenance surprises and life changes.
Is this financial advice?
No. Planning estimates only.
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