What is the 28% rule for mortgages?

Financial experts often recommend the "28/36 rule," which suggests that you shouldn't spend more than 28% of your gross monthly income on housing expenses (mortgage principal, interest, taxes, and insurance), and no more than 36% on total debt (including car loans, student loans, etc.).

Should we use gross (before tax) or net (after tax) income?

Most affordability rules (like the 28% rule) use gross income. However, using net (take-home) pay gives a much more realistic picture of how the mortgage will feel in your daily budget. Whichever you choose, ensure you use the same method for both partners.

What if one person pays the down payment?

If one partner is providing the entire down payment, you might want to adjust the monthly split to compensate, or draft an agreement on how equity is shared if you ever sell the home. This calculator focuses purely on the monthly cash flow burden.

What if our incomes change in the future?

A proportional split should adapt as your careers grow. It's a great practice to revisit your mortgage split whenever there's a significant income change for either partner. A quick check-in every year can ensure your arrangement still feels fair.

How should unmarried couples split rent fairly?

The fairest approach for most couples is proportional splitting based on income. Calculate what percentage each partner earns of the total household income, then apply those same percentages to rent. This ensures both partners contribute equally relative to what they earn. For example, if you earn $5,000/month and your partner earns $3,000/month, you'd pay 62.5% and they'd pay 37.5% of rent.

How much of your income should go to rent as a couple?

Financial experts recommend spending no more than 30% of your combined gross income on housing. For a couple earning $8,000/month combined, that means a maximum rent of $2,400. But look at it from each partner's perspective too. If a proportional split means one partner is spending 40% of their individual income on rent, the apartment may be too expensive for your situation.

Is it fair to split rent 50/50 when one person makes more?

In most cases, no. When there's a significant income gap, a 50/50 split means the lower earner spends a much larger percentage of their paycheck on housing. This can lead to financial stress, resentment, and an imbalance in the relationship. Proportional splitting ensures both partners feel the same level of financial impact from housing costs.

What happens to the mortgage if we break up?

If both names are on the mortgage, you're both legally responsible for payments regardless of your relationship status. Options include selling the property and splitting equity, one partner buying the other out (requires refinancing), or continuing to co-own with a written agreement. If you're unmarried, consider a cohabitation agreement before buying together. This calculator helps you understand the financial commitment before you sign.

How should my spouse and I split rent when we earn different salaries?

Enter both incomes into the calculator above and it calculates a proportional split. The partner earning more pays a proportionally larger share of the rent. Most couples find this feels fairer than splitting 50/50 when there's a salary gap.

Should couples split a mortgage based on income or 50/50?

It depends on your household situation. If both spouses earn similar salaries, 50/50 works fine. If there's a significant income gap, splitting by income ratio means neither partner is financially strained. Use this calculator to see both options.

COUPLES MORTGAGE CALCULATOR

Can We Afford This Home Together?

The only mortgage calculator built for two incomes. See your monthly payment, how to split it fairly, and whether it's actually affordable for both of you.

1. Home Details

Home Price

Down Payment

Interest Rate (%)

Loan Term

Property Taxes (%)

Home Insurance (/mo)

HOA Fees (/mo)

2. Your Incomes

Partner 1's Monthly Income

Partner 2's Monthly Income

$3,144.94

Monthly Payment

Monthly Payment Breakdown

Principal & Interest

$2,528.27

Property Taxes

$416.67

Home Insurance

$200

Annual Cost

Total Yearly Housing Cost

$37,739.27

3. Affordability Results

Is it affordable?

Stretching It

This home takes up 28.6% of your combined monthly income ($11,000). Financial experts recommend keeping housing costs below 28% of your gross income.

28%

36%

Fair Income-Based Split

Partner 1

$1,715.42

54.5% of payment

Partner 2

$1,429.52

45.5% of payment

Individual Impact

How much of each person's own income goes to housing after splitting it fairly.

Partner 1's Burden

28.6%

Partner 2's Burden

28.6%

💡 Our Recommendations

You're right around the recommended limit. Consider a slightly less expensive home to build a safety cushion in your monthly budget.

Great job hitting the 20% down payment mark! This saves you money by avoiding PMI.

Make sure you have 3-6 months of housing costs saved as an emergency fund before buying.

Your housing split is done. Now track every home cost.

Halfway splits rent, mortgage, utilities, and repairs by your income ratio, automatically, every month.

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Frequently Asked Questions

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