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Home Affordability Calculator — How Much House Can You Afford?

Calculate the maximum home price you can afford based on your income, debts, down payment, and current mortgage rates.

Quick answer: Home affordability depends on income, debts, down payment, mortgage rate, taxes, insurance, and lender DTI limits. The result is a planning estimate, not a loan approval.

SWReviewed by SwitchWize Research Desk · Last reviewed July 20, 2026
Illustrative Home Price
$329,618
Illustrative Home Price
$329,618
Housing Budget Under Entered Guidelines
$2,333
Available Principal & Interest Budget
$1,658
Max Monthly Payment (28% rule)
$2,333
Monthly Payment Cap by Guideline
Max Payment (36% DTI rule)
$2,500
Diagnostic

The entered 28.00% front-end and 36.00% back-end guidelines support an illustrative price of $329,618.

This is a planning screen, not a lender qualification or a complete ownership budget.

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What to do next

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Your action plan
  1. 1

    Set the target and timeline for this plan

    Estimate an illustrative home price using income, debts, rate, tax, insurance, and two entered planning guidelines.

  2. 2

    Compare the result against current market-rate options

    Assumptions change the answer, especially when rates, taxes, or timing matter.

  3. 3

    Save the result to Money Map or use the linked next action

    Turn the result into a prioritized action instead of treating it as a one-off number.

Compare Mortgage Rates

This is an educational estimate, not tax, legal, investment, or lending advice. Tax rules, rates, and eligibility change and depend on your full situation. Confirm with a qualified professional or the provider before acting.

Calculator action path

Turn this result into a decision

Every SwitchWize calculator connects to a product comparison, rate context, guidance, alerts, and Money Map.

Rate authority hub
Compare
You could gain ~$329,618/yr — compare nowMove from calculation to current product options.
Rate Trend
Track mortgage ratesUse market context before you decide when to act.
Guide
How Much House Can I Afford? The Real CalculationLenders qualify you based on gross income, but what you can actually afford depends on take-home pay, your savings goals, and local costs. Here's how to find a number that works for your life.
Money Map
Map this $329,618/yr opportunitySave this opportunity and see how it fits your broader money plan.
Alert
Create a rate alertWatch the market instead of checking manually.

About mortgage rates

Mortgage rates depend on loan type (30-yr fixed, 15-yr fixed, ARM, FHA, VA, jumbo), your credit score, down payment, points paid, loan amount, property state, and whether you're purchasing or refinancing. The calculator above uses a representative market rate for payment estimates — your actual rate will vary.

For a personalized rate comparison, use the tool below to see lenders ranked by APR, loan type, and your profile.

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30-yr fixed · 15-yr fixed · FHA · VA · ARM — ranked by APR
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Mortgage rates shown on SwitchWize compare pages include loan type, assumed FICO, LTV, and points. Representative only — verify all terms directly with the lender. Advertising disclosure

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Frequently Asked Questions

Everything you need to know.

What income do I need to afford a $400,000 house?
At 6.24% with 10% down, the monthly P&I on $360,000 is approximately $2,400. Adding taxes, insurance, and PMI brings total housing costs to roughly $3,100/month. At the 28% guideline, that requires $133,000/year gross income.
How much should I save for a down payment?
20% avoids PMI and gives you the best rates. But 3–5% down (FHA loans) or 0% (VA, USDA) are valid options if you have a stable income and plan to stay long-term. The 20% rule is a guideline, not a requirement.
Why is my lender's preapproval number higher than this calculator's?
Lenders often qualify you up to their full DTI ceiling (frequently 43–50% back-end with compensating factors), while this tool defaults to the more conservative 28%/36% guideline and doesn't add PMI, HOA dues, flood insurance, utilities, maintenance, or closing costs. A preapproval tells you the most you could borrow; this estimates a more comfortable planning range. You can raise the guideline inputs to see how the number moves toward a preapproval-style ceiling.
What's the difference between the 28% and 36% rules?
The 28% ('front-end') rule caps your housing payment alone at 28% of gross monthly income. The 36% ('back-end') rule caps housing plus all other debt payments (car loans, student loans, credit cards) at 36%. This calculator uses whichever guideline is more restrictive for your entered debts — if you already carry meaningful monthly debt, the 36% rule usually binds first.
Is the Home Affordability Calculator — How Much House Can You Afford? free to use?
Yes. SwitchWize calculators are free, and you do not need an account to run scenarios or view the result.
Does using the Home Affordability Calculator — How Much House Can You Afford? affect my credit score?
No. Using a calculator does not trigger a credit check. A credit impact can occur only if you apply directly with a lender, card issuer, or provider.
Are the results personalized financial advice?
No. Calculator outputs are educational estimates based on the inputs you enter. Review assumptions and confirm terms directly with providers before making a financial decision.
What should I do after seeing the result?
Use the recommendation module on this page to compare mortgage rates, or run Money Map to compare this home & mortgage decision with your other opportunities.
How does SwitchWize choose related offers?
Related offers are matched by the calculator surface (mortgage) and ranked using SwitchWize data such as rate, fees, trust signals, product fit, and switching friction. Paid relationships do not change organic ranking order.
How fresh are the rates and offers shown?
Rate and offer data is reviewed on a recurring cadence and every offer module shows review context or links to the methodology and disclosure pages.
Where can I see the ranking methodology?
The SwitchWize methodology page explains how rate freshness, editorial review, affiliate disclosure, and category ranking factors work.
Can Money Map use this result?
Yes. Money Map is the broader diagnostic path: it compares savings, mortgage, cards, and debt so you can see whether this calculator result is your highest-impact next move.

Why This Matters

Buying more home than you can afford is the most common financial mistake in America. The bank will often approve a loan larger than is financially comfortable — their DTI limit is not a budget recommendation.

How to Use It

  1. 1Enter your annual income and monthly debt payments
  2. 2Set your down payment amount
  3. 3Enter current interest rate and target DTI
  4. 4See your maximum affordable home price and monthly payment breakdown
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