Home Affordability
Calculate exactly how much house you can afford based on the standard 28/36 lender rule. Find your budget before you shop.
Financial Profile
Estimated Buying Power
$409,159
Max Loan Amount
$369,159
Principal from lender
Affordability Factor
Income Driven: Your salary is the primary factor setting your budget.
Current DTI: 34.0%
?The 28/36 Rule Explained
Lenders typically use the 28/36 Rule to determine how much they are willing to lend. It consists of two ratios:
- 28%: Your total monthly housing expenses (mortgage, insurance, taxes) should not exceed 28% of your gross monthly income.
- 36%: Your total monthly debt payments (housing plus car loans, student loans, etc.) should not exceed 36% of your gross monthly income.
Lenders generally offer a loan based on whichever of these two numbers is lower.
Ways to Increase Budget
Lower Interest Rates
Even a 0.5% drop in interest rates can add tens of thousands of dollars to your buying power.
Reduce Monthly Debt
Paying off a car loan or student debt lowers your DTI ratio, allowing for a higher mortgage.
Higher Down Payment
Every dollar added to your down payment directly increases your home price budget 1-to-1.
Extended Terms
A 30-year loan has lower monthly payments than a 15-year loan, increasing your maximum home price.
Beyond the Mortgage
This tool estimates what a lender might give you. It doesn’t account for property taxes, homeowners insurance, or HOA fees, which can add hundreds to your monthly cost. Always include a "buffer" in your personal budget for home maintenance.