Home Affordability Calculator
Enter your income and debts. We'll use the standard 28/36 lending guideline to estimate a comfortable price range — the same math lenders start with.
Enter a rate you've seen or been quoted — this calculator doesn't publish rates. A 30-year fixed term is assumed.
Estimated affordable price
$329,961
- Max monthly housing budget
- $2,380
- Limiting factor
- 28% housing rule
- Down payment needed
- $16,498
Note: This estimator provides a rough affordability picture only. It is NOT a pre-approval, pre-qualification decision, or commitment to lend. Only a licensed loan officer reviewing your full application can determine what you qualify for.
Important: All calculations on this site are estimates for educational purposes only and do not constitute a loan offer, approval, or commitment to lend. Your actual rate, payment, and terms depend on credit approval and will be provided by your loan officer.
How this works
- 28% rule: your housing payment (principal, interest, taxes, insurance) shouldn't exceed 28% of gross monthly income.
- 36% rule: your housing payment plus all other monthly debts shouldn't exceed 36% of gross income.
- Whichever rule gives the lower budget is your limiting factor — shown above.
- Property tax is estimated at 1.1%/year (Illinois average) and insurance at 0.35%/year. Your actual numbers will differ.
Want a human to sanity-check this against your real situation? Talk to me — it's free.