Use this simple calculator to get an idea of how much house you may be able to afford. Keep in mind, the amount of house you can afford will be dependent on how much debt you have now. If you have high student loans, credit card debt, car loans, etc, you’ll be on the low end of this range at best.
The pre-populated interest rate in this calculator is the current 30-year fixed rate taken from http://www.zillow.com. If your credit score isn’t high, the interest rate you could qualify for will likely be higher than the rate from zillow.com.
And a reminder: think about all the costs connected with buying a home before you take the plunge; it’s more than just your mortgage payment, it’s also property taxes, homeowners insurance, utility bills, maintenance costs, and, possibly additional furniture and home improvements.