What are the 28 and 36 limits?

A common guideline: housing costs up to 28 out of every 100 dollars of gross monthly income, and all debts including housing up to 36. Lenders set their own limits, so change them to match your quote.

Does this include my down payment?

Yes. The estimated price is the loan you could carry plus the down payment you enter.

Is this a pre approval?

No. It is an estimate. A lender pre approval checks your credit, income and assets.

Calculators

How much home can I afford?

This uses debt to income limits that you can change. The lower of the two limits decides your budget.

Your numbers

The numbers filled in are examples only. Replace them with your own.

Gross household income (per year)

Other debt payments (per month)

Housing cost limit (percent of monthly income)

Total debt limit (percent of monthly income)

Down payment

Interest rate (percent per year)

Loan term (years)

Property taxes (per year)

Home insurance (per year)

HOA or common charges (per month)

28 and 36 are a common guideline. Lenders set their own limits.

Results

Estimated home price: $523,929
Monthly housing budget: $3,500
Principal and interest budget: $2,542
Loan amount: $423,929

Estimate only, not a loan offer or advice. Real costs depend on your lender, credit, taxes and insurance quotes.

Questions people ask

What are the 28 and 36 limits?: A common guideline: housing costs up to 28 out of every 100 dollars of gross monthly income, and all debts including housing up to 36. Lenders set their own limits, so change them to match your quote.
Does this include my down payment?: Yes. The estimated price is the loan you could carry plus the down payment you enter.
Is this a pre approval?: No. It is an estimate. A lender pre approval checks your credit, income and assets.