How much house can I afford?
United States · 2026 rates
Also for Canada
Also for United KingdomFind out how much house you can afford. The calculator uses the 28/36 rule lenders often start with, including property tax, homeowners insurance, PMI and HOA fees.
The 28/36 rule
Many lenders start with two debt-to-income (DTI) limits, measured against your gross monthly income:
| Ratio | What it includes | Limit |
|---|---|---|
| Front-end (housing) ratio | Mortgage principal and interest, property tax, insurance, PMI and HOA fees | 28% |
| Back-end (total debt) ratio | Housing costs plus car loans, student loans, credit card minimums and other debts | 36% |
The calculator finds the highest home price where both limits are met. FHA and some other loans allow higher ratios, so you may be approved for more, but staying within 28/36 leaves room in your budget.
Example
On a $100,000 income with $400 of monthly debts and $40,000 down, the housing payment can be up to $2,333.33 a month. At 6.25% over 30 years, with 1% property tax and $1,800 a year insurance, that supports a home of about $330,259. The payment includes $120.94 of PMI because the down payment is under 20%.
Frequently asked questions
What is PMI?
Private mortgage insurance protects the lender on a conventional loan with less than 20% down. It often costs around 0.5% to 1.5% of the loan a year, and you can ask to cancel it once you owe 80% of the home's original value. This calculator uses 0.5%.
What else should I budget for?
Closing costs (often 2% to 5% of the loan), moving costs, maintenance and repairs. Many owners set aside about 1% of the home's value each year for upkeep.
A guide only, not a loan approval. Lenders also consider your credit score, employment history and savings. Use our mortgage calculator to check the payment on a specific home.
Last checked and updated: October 2026