CalcYard / Personal Finance

Mortgage Affordability Calculator

Uses the 28/36 rule on gross income.

Example: Gross annual income: $110,000 · Monthly debt payments: $500 · Down payment saved: $60,000 · Interest rate: 6.5% → Home price you can afford: $394,880.

  • Max loan amount: $334,880
  • Max monthly P&I: $2,116.67
  • Total housing payment: $2,566.67

Often used together: people running these numbers usually also estimate your mortgage, check your down payment, compare your PMI, project your closing cost, work out your mortgage amortization and size up your extra payment.

Frequently asked questions

How do I calculate mortgage affordability?
Uses the 28/36 rule on gross income. Enter your numbers above and the result updates instantly. For example: Gross annual income: $110,000 · Monthly debt payments: $500 · Down payment saved: $60,000 · Interest rate: 6.5% → Home price you can afford: $394,880.

Is this Mortgage Affordability Calculator free?
Yes — completely free with no sign-up or paywall. It runs entirely in your browser and keeps working offline; the numbers you enter never leave your device.

How accurate is it?
It uses the standard published formula for mortgage affordability. Results are estimates for planning — not financial, tax, medical, engineering, or legal advice.

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