You can use Zillow's Affordability Calculator to estimate how much house you can afford based on your financial situation. The calculator takes into account your annual income, monthly debts (like car payments, student loans, credit cards), down payment amount, interest rate, property taxes, homeowners insurance, and HOA fees if applicable

. Key points about how the calculator works and affordability guidelines:

• It calculates a comfortable mortgage amount by considering your income, debts, and down payment.
• Lenders typically use a debt-to-income (DTI) ratio of 36/43: your monthly mortgage costs (including taxes and insurance) should be no more than 36% of your gross monthly income, and your total monthly debt payments (including mortgage) no more than 43% of your pre-tax income

• The 28/36 rule is a common guideline where housing costs should not exceed 28% of gross monthly income, and total debts should not exceed 36%

• You can customize the calculator with your specific numbers to get an accurate affordability estimate.
• Getting pre-qualified by a lender can confirm how much mortgage you qualify for, which helps set a realistic budget

To use Zillow's calculator, you input your annual income before taxes, monthly debts, down payment, and adjust for taxes and insurance. The tool then estimates the home price you can afford and your expected monthly mortgage payment

. In summary, Zillow's affordability calculator helps you determine a sensible housing budget by analyzing your income, debts, down payment, and other costs, aligned with standard lending criteria like DTI ratios. This can guide you in understanding how much house you can afford before you start house hunting or get pre-qualified for a mortgage.