House affordability calculator

Lenders use a "housing ratio" (monthly housing payment ÷ gross monthly income) to cap how much they'll lend. 28% is a common ceiling for the front-end ratio; many also use a 36% total debt-to-income (including other debt). The number is an underwriting rule, not a recommendation for how much you should spend.

Repairs, replacements, and upkeep: HVAC, roof, appliances, plumbing, painting, landscaping. Rule of thumb is 1–2% of home value per year. Newer homes may be less; older homes more. Putting a monthly equivalent in the calculator keeps your total housing cost realistic.

Enter your base rent plus any mandatory fees (e.g. trash, water if billed by landlord). Renter's insurance is usually a small monthly amount. "Other" can be a parking spot, storage, or anything else that's fixed and housing-related.

HOA or condo fees are part of your housing cost. They often cover some insurance and maintenance (e.g. common areas); we still count them in full because they're mandatory and affect what you can afford.

Use the mortgage calculator to see how loan amount, rate, and term affect your P&I. Then bring that P&I here and add property tax, insurance, HOA, and maintenance. Compare the total to your income (we show the percentage if you enter income). Lenders typically cap the housing ratio around 28%; you can aim lower for more cushion.

Only if you want "total cost to live here." Many people keep utilities separate. If you do include them, add an average monthly amount in "Other" so your total reflects reality.

You can leave them at 0 or estimate. Property tax is often 1–2% of home value per year; insurance varies by location and coverage. Getting quotes from your insurer and checking the previous owner's tax bill (or a tax estimator) will improve the number.

The 28% rule is a common benchmark. Seeing your housing cost as a share of income helps you compare to that guideline and to your own comfort level. It's optional—leave income blank if you only want the dollar total.