Mortgage Affordability Calculator

Calculate maximum mortgage from income and debts. Uses 28/36 DTI rules.

By Konstantin Iakovlev · Updated September 2026 · Source: CFPB — Owning a Home

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Max Home Price

$350,369.85

Max Loan Amount

$290,369.85

Max Monthly Payment

$2,333.33

Affordability Details

Max Mortgage Payment (P&I)$1,883.33
Property Tax + Insurance + HOA$450.00
Total Housing Payment$2,333.33
Front-End DTI (housing)28.0%
Back-End DTI (total)34.0%
Limited byfront-end (28%)

Conservative Estimate (25% of Income)

Conservative Home Price$311,825.18
Conservative Loan Amount$251,825.18
Conservative Monthly P&I$1,633.33

Use the Mortgage Affordability Calculator above to calculate your results. Enter your values and see instant results — all calculations run in your browser.

Disclaimer: This calculator is for informational purposes only and does not constitute tax, financial, or legal advice. Results are estimates based on the information you provide and current rates. Always consult a qualified tax professional or financial advisor for advice specific to your situation.

How It Works

This tool pins down the largest mortgage you can sensibly carry given your income and current debts, so you stretch toward a home without stretching past your means.

The calculation rests on the well-established 28/36 Debt-to-Income (DTI) rule. It takes 28% of gross monthly income as the most for housing and 36% as the most for all debts. From the 28% figure it subtracts your monthly property tax, insurance and HOA; from the 36% figure it subtracts those plus your other monthly debts. The lower result is the most you can put toward principal and interest, which it converts into a maximum 30-year loan at your rate; adding your down payment gives the maximum home price. A second table repeats the calculation with housing capped at 25% of income as a conservative case.

Treat the result as a ceiling rather than a guarantee, because lenders also weigh credit scores, down payments, and interest rates; Freddie Mac's survey put the average 30-year fixed rate at 6.95% for the week of September 17, 2026. Property taxes and homeowner's insurance belong in the picture too, since both push your real monthly housing cost well above the loan payment alone.

Example: Sarah's Mortgage Affordability

  1. 1 Sarah earns $7,500 gross per month. Her existing monthly debts are a $300 car payment and a $150 student loan payment, $450 in all. Property taxes and insurance are estimated at $400 per month, there is no HOA, and she has $40,000 for a down payment. She uses 6.95%, Freddie Mac's 30-year average for the week of September 17, 2026.
  2. 2 Front-end limit: $7,500 × 0.28 = $2,100 for housing, minus $400 of taxes and insurance = $1,700 for principal and interest. Back-end limit: $7,500 × 0.36 = $2,700 for all debts, minus $450 of debts and $400 of taxes and insurance = $1,850.
  3. 3 The lower figure, $1,700, is her maximum principal and interest payment, so the result is limited by the front-end (28%) rule. Her total housing payment is $2,100, a front-end DTI of 28.0% and a back-end DTI of ($2,100 + $450) ÷ $7,500 = 34.0%.
  4. 4 At 6.95% over 30 years, $1,700 a month supports a loan of $256,817.79; adding the $40,000 down payment gives a maximum home price of $296,817.79. The conservative 25% case ($7,500 × 0.25 − $400 = $1,475 a month) supports a loan of $222,827.20, or a home of $262,827.20 with the down payment.

Source: CFPB — Owning a Home · Last updated: September 2026

Frequently Asked Questions

How much house can I afford on a $100,000 salary?
Using the 28% front-end DTI rule, your maximum monthly housing payment is about $2,333. With the calculator's default $300 of property tax, $150 of insurance and $500 of other debts, $1,883.33 a month is left for principal and interest. At 6.95%, Freddie Mac's 30-year average for the week of September 17, 2026, that supports a loan of about $284,514, or a home of about $316,126 with 10% down. Higher taxes, insurance or debts lower it.
What is the 28/36 rule for mortgages?
The 28/36 rule says your monthly housing costs (mortgage, taxes, insurance) should not exceed 28% of gross monthly income, and total debt payments (housing plus car loans, student loans, credit cards) should not exceed 36%. Many lenders approve up to 43% total DTI, but 36% is the safer target.
How much should my down payment be?
Conventional loans require as little as 3-5% down. FHA loans require 3.5%. However, putting less than 20% down on a conventional loan means paying private mortgage insurance, which Freddie Mac puts at roughly $30 to $70 a month for every $100,000 borrowed. A 20% down payment avoids PMI, and on a conventional loan you can cancel it once you reach 20% equity.

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