Home affordability calculator
The most home your income supports under the 28/36 rule, with the full monthly payment: loan, property tax, insurance, HOA and PMI.
Checked Oct 24, 2026 · How we calculate this
Your numbers
You
$
$/ mo
$/ mo
$
The loan
%
Term
% / yr
$/ yr
$/ mo
% / yr
Home you can afford
$513,000
With $80,000 down, the full payment is $3,495 a month, 28% of your gross pay. That’s $995 more than your rent.
| Monthly payment | Amount |
|---|---|
| Principal and interest$433,000 loan, 30 years at 6.5% | $2,737 |
| Property tax | $428 |
| Home insurance | $150 |
| PMIUntil you owe 78% of the price | $180 |
| Total | $3,495 |
| The 28/36 rule | Most a month |
|---|---|
| Housing: 28% of gross pay | $3,500 |
| Housing and debts: 36%Less your $500 of other debt payments | $4,000 |
The 28% housing limit sets your price. Spending 36% of your pay on housing, a stretch most lenders still allow, would reach $645,000.
Assumptions and limitsChecked Oct 24, 2026
Figures used
- Housing limit
- 28% of gross monthly pay
- Housing and debt limit
- 36% of gross monthly pay
- PMI while the loan is above
- 80% of the price
Assumed
- A fixed-rate loan.
- Property tax and insurance at today’s rates.
Not modeled
- Closing costs, moving and repairs.
- Lender rules beyond 28/36: credit score, loan limits, FHA or VA loans.
- Your savings after the down payment.
How it works
The 28/36 rule
Lenders’ rule of thumb: housing should take at most 28% of gross monthly pay, and housing plus other debt payments at most 36%. The tighter of the two sets the price.
The whole payment
Housing means the full payment: principal and interest, property tax, insurance, HOA dues, and PMI while you owe more than 80% of the price.
What it leaves out
Closing costs (often 2% to 5% of the price), repairs and moving. Keep cash for those on top of the down payment.