How Much House Can I Afford?
Enter your gross monthly income, your savings and the rate you expect to see the most house you can afford, how much would be the mortgage, and whether your income or your savings is the limit.
General values (United States). They don't account for regional rules or other costs that may apply. Check them with your lender or advisor.
More options
Enter your income, savings, interest rate and term.
A rough estimate with a fixed payment. Lenders will also look at your other debts and job stability.
Work out the mortgage for this home →Results are estimates. Solvemis accepts no responsibility for the results obtained or for how they are used. Always double-check the result and talk to a qualified professional before making decisions.
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How it works
How to use it
- Enter your gross monthly income and the savings you can put in.
- Add the interest rate you expect and the term.
- Review the US values filled in and change them if your situation is different.
- Check the maximum price, the breakdown and which limit applies.
How it is calculated
Two prices are calculated and the lower one wins. By income: the loan whose fixed payment is the chosen share of your income, plus your savings, minus closing costs. By savings: the price at which your savings exactly cover the part the lender won't finance plus costs. The percentages are general values for the United States. A second applicant's income is added to yours; other debt payments count the way the country's rule counts them.
Sources
- What Is The 28/36 Rule For Home Affordability? — Bankrate
- What is the 28/36 rule for home affordability? — JPMorgan Chase
- Debt-to-Income Ratios (B3-6-02) — Fannie Mae Selling Guide
About this calculator
How it’s calculated
Buying a home has two limits at the same time. The first is the payment: under the 28/36 rule, your housing payment should stay within 28% of your gross income. The second is savings: with 80% financing, the other 20% and the closing costs come from your pocket. The calculator finds the price each limit allows and keeps the lower one.
If savings are the limit, every extra dollar saved goes a long way: with the US values, each dollar allows about $4.30 more of price. If income is the limit, a longer term or a lower rate helps most.
What lenders look at in the US
Besides the 28% housing ratio, lenders check the 36% back-end ratio, which includes car loans, student loans and credit cards, plus your credit score and job history. FHA and some conventional loans allow as little as 3–3.5% down, but with mortgage insurance on top.
Closing costs in the US
Closing costs usually run 2–5% of the price: lender fees, title insurance, appraisal and local transfer taxes, which vary a lot by state. The 3% filled in is a general value: check it with your lender or advisor.
Frequently asked questions
What limits how much house I can afford?
Two things at once. Your income sets the largest payment (28% of gross income under the 28/36 rule), and your savings must cover the down payment plus closing costs. The calculator works out both and tells you which one applies.
Why aren't closing costs part of the loan?
Closing costs are usually paid in cash at closing, so they come out of your savings along with the down payment.
Gross or take-home income?
US lenders use gross monthly income, before taxes. If you're buying with someone else, add both incomes.
What if we buy as a couple, or I already pay other loans?
Under “More options” you can add the second applicant's income, which is added to yours, and what you already pay each month for other loans, cards or leasing. In the United States, besides the limit for the mortgage payment (28%), there is another one for all your debts together (36%): whichever leaves less applies.
Updated October 14, 2026
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