How much mortgage can I afford?

Most lenders use the 28/36 rule: your monthly housing costs should not exceed 28% of gross income, and total debt payments should not exceed 36%.

Mortgage Affordability Calculator

Estimate an affordable mortgage amount from income and ratios.

This tool runs in your browser. None of your data is saved or sold.

Gross annual income ($)

Target front-end ratio (%)

Mortgage rate (%)

Loan term (years)

About This Calculator

Lenders use your income and a target front-end ratio (the percentage of gross income that can go to housing) to set an upper bound on what they'll lend. This calculator shows the maximum loan amount implied by that ratio, along with the corresponding monthly payment.

Estimates only — not financial, tax, legal, or investment advice. Verify important results with a qualified professional before making decisions.

max payment = (annual income ÷ 12) × front-end ratio; affordable loan = PMT × (1 − (1+r)^−N) ÷ r