AffordLab

Home Affordability Calculator

A free home affordability calculator built on the 28/36 rule lenders have used for decades: housing costs at or under 28% of gross monthly income, all debt payments at or under 36%. It takes the binding cap, funds principal, interest, property tax, and insurance from it, and solves the purchase price in closed form. A $120,000 income with $500 of existing monthly debts, $60,000 saved, and a 6.5% 30-year rate supports a $2,800 monthly housing budget and roughly a $418,557 home. The result is a budgeting estimate under a disclosed convention — not a pre-approval, a lending decision, or financial advice. Real underwriting weighs credit, reserves, and loan programs this page can't see.