Introduction
Knowing how much house you can afford starts with your salary, your deposit and a realistic monthly payment — not with the largest loan a website says you might get.
Quick answer
- A common planning rule is salary × 4, plus deposit, but lenders check much more than that.
- The monthly payment matters more than the headline price.
- Deposit, debts and outgoings all change what is affordable.
What is it?
Affordability is not just a price. It is a monthly payment you can keep paying, plus bills, maintenance and an emergency fund, without stretching every month.
How to use the calculator, step by step
- Enter your numbers in the calculator linked above.
- Press Calculate.
- Check the main result and the total, not just the first number.
- Try a second version — a different rate, term or payment — and compare the totals.
Worked example
Salary £60,000, multiplier 4, deposit £25,000: price £265,000, loan £240,000. At 4.5% over 25 years, estimated monthly payment £1,334.00.
Common mistakes
Using the maximum loan as a target; forgetting other debts; ignoring rate rises if you are on a variable rate.
Frequently asked questions
Is the calculator result exact? No, it is an estimate for learning and planning, based on the numbers you enter and the assumptions stated on the calculator page.
Should I check with a professional? Yes, for a mortgage, loan, tax or investment decision, check with your lender, bank, tax authority or a qualified adviser before you decide.
Can I use this in the US, UK or Canada? The maths is the same, but rates, tax bands and lender rules differ by country. Use the numbers and rules for your country, and check the official source where a rate or band matters.
Conclusion and next step
Try your own numbers in the calculator, compare the totals, and read the next calculator guide from the homepage when you are ready.
Disclaimer: This article and calculator are for information and education only. Results are estimates and not financial advice. Please check with your lender or a qualified adviser before making a financial decision.