Calculate your maximum home price using the 28/36 DTI rule. See mortgage payments, PMI, and total cost at different down payment levels.
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The 28/36 rule states that you should spend no more than 28% of your gross monthly income on housing costs and no more than 36% on total debt payments including housing.
While 20% is ideal (avoids PMI), many loans allow 3-5% down. FHA loans require as little as 3.5% down payment.
Private Mortgage Insurance (PMI) is required when your down payment is less than 20%. It typically costs 0.5-1% of the loan amount annually and protects the lender against default.
The Home Affordability Calculator is a free online tool that lets you calculate how much house you can afford based on income, debts, and down payment using the 28/36 rule. It is part of NexTool's collection of free tools designed to help you work faster and more efficiently.
Using the Home Affordability Calculator is simple: visit the tool page, enter your data or input into the provided fields, and get instant results. No downloads, installations, or sign-ups are required. The tool runs directly in your web browser for maximum convenience.
Yes, the Home Affordability Calculator is 100% free to use with no limitations. There is no registration required, no daily usage caps, and no hidden fees. You can use it as many times as you need.
The Home Affordability Calculator uses industry-standard formulas and algorithms to deliver reliable results. While the tool is designed for accuracy, results should be used as estimates and guidance. For critical decisions, always consult a qualified professional.
Yes, the Home Affordability Calculator is fully responsive and works perfectly on smartphones, tablets, and desktop computers. Simply open NexTool in your mobile browser and navigate to the tool — no app download required.
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Calculate your maximum home price using the 28/36 DTI rule. See mortgage payments, PMI, and total cost at different down payment levels.
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| Down % | Down Payment | Max Home | Monthly | PMI |
|---|---|---|---|---|
| 5% | $12,387 | $247,730 | $1,983.32 | $98.06 |
| 10% | $25,954 | $259,545 | $1,983.32 | $97.33 |
| 15% | $40,881 | $272,542 | $1,983.32 | $96.53 |
| 20% | $60,541 | $302,703 | $1,983.33 | None |
| Annual Income | Max Home (20% down) | Max Housing / Mo |
|---|---|---|
| $50,000 | $156,855 | $1,100.00 |
| $75,000 | $264,177 | $1,750.00 |
| $100,000 | $360,492 | $2,333.33 |
| $125,000 | $456,806 | $2,916.67 |
| $150,000 | $553,121 | $3,500.00 |
| $200,000 | $745,750 | $4,666.67 |