Compliance Level 4: Financial Projection
Forward-looking estimates with assumptions
Determine how much house you can afford based on your income, debts, and down payment.
Student loans, car payments, credit cards
Affordability summary
| Metric | Value |
|---|---|
| Max Home Price | £443,285.31 |
| Max Loan Amount | £383,285.31 |
| Down Payment % | 13.5% |
| Front-End Ratio Used | 28.0% |
| Back-End Ratio Used | 33.0% |
| Monthly P&I | £2,104.66 |
| Monthly Tax + Insurance + PMI | £695.33 |
| Total Monthly Payment | £2,800.00 |
How much house can you afford?
Determine how much home you can realistically afford based on your income, existing debts, down payment, and current interest rates using the 28/36 rule.
Determine how much home you can realistically afford based on your income, existing debts, down payment, and current interest rates using the 28/36 rule.
The calculation uses industry-standard financial mathematics to provide accurate estimates. Our methodology is transparent and based on established formulas.
Our calculations use standard financial formulas and are accurate for the inputs provided. However, real-world conditions (fees, rate changes, taxes) may cause variations.
Use this calculator for educational planning and rough estimates. For major decisions, consult qualified professionals who can review your complete financial situation.
Applies the 28/36 lending rule: housing costs should not exceed 28% of gross monthly income, and total debt payments should not exceed 36%. Compares front-end and back-end ratios to determine maximum loan and home price.
Disclaimer: This calculator provides estimates based on standard lending guidelines. Individual lender requirements may vary. Pre-qualification from a mortgage professional is recommended before making offers.
Disclaimer
This calculator provides estimates for educational purposes only. Results are based on the inputs you provide and standard financial formulas. They do not constitute financial, investment, tax, or legal advice. Consult a qualified professional before making financial decisions.
The 28/36 rule is a guideline: spend no more than 28% of gross monthly income on housing costs, and no more than 36% on total debt payments (including housing). Lenders use this to assess affordability.
Use this calculator! It considers your income, existing debts, down payment, and current rates. The result shows your maximum home price based on standard lending guidelines.
If your down payment is less than 20%, lenders require Private Mortgage Insurance (PMI). This adds to your monthly payment and reduces how much house you can afford.
High monthly debts reduce your back-end capacity. The calculator accounts for this — you may qualify for a less expensive home, or need to pay down debts first.
Mortgage Payment Calculator
Calculate monthly mortgage payments including taxes, insurance, and PMI
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See if refinancing your mortgage is worth it, including the break-even point on closing costs
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Important Disclaimer
This calculator provides estimates for educational purposes only. Results are based on the inputs you provide and standard financial formulas. They do not constitute financial, investment, tax, or legal advice. Consult a qualified professional before making financial decisions.