How much house can I afford?
Affordability comes from two directions: what a lender will approve based on income, debts and program guidelines, and what monthly payment you are comfortable with. They are not always the same number.
Buying · Written by Anil Aggarwal, Realtor® | Mortgage Loan Officer · Updated August 8, 2026
Start with the payment you want, then work backward to a price using rate, taxes, insurance, HOA dues and mortgage insurance — not just principal and interest.
Remember maintenance and utilities, which do not appear on a mortgage statement but do appear in your budget.
A pre-approval translates your documented financial picture into a lender-supported price range, subject to underwriting.
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Educational only: The calculators and information on this website are for educational and illustrative purposes only. Results are estimates based on the information and assumptions entered and are not a loan offer, commitment to lend, financial advice or guarantee of eligibility, rates, costs or savings. Actual loan terms, rates, fees, mortgage insurance and qualification requirements vary by borrower, property, lender and loan program. Speak with a licensed mortgage professional for personalized information.