what house can i afford calculator

To calculate how much house you can afford, you can use various online affordability calculators provided by financial institutions and real estate websites. These calculators take into account your household income, monthly debts, down payment, and other financial details to determine a suitable price range for a home purchase. One common rule of thumb used in these calculations is the 28/36 rule, which suggests that you shouldn’t spend more than 28% of your gross monthly income on home-related costs and no more than 36% on total debts, including your mortgage, credit cards, and other loans. By inputting your financial information, such as income, debts, and down payment, into these calculators, you can receive an estimate of how much house you can afford based on your current financial situation.