To use the calculator, simply fill in the blank spaces with your own numbers. Here’s how to calculate the amount you can afford:

1. Start with your monthly income.
2. Subtract your monthly debt payments and living expenses.
3. Take the remaining amount and multiply it by 0.28 (28%) to get your maximum monthly mortgage payment.
4. Divide your maximum monthly mortgage payment by the current interest rate (as a decimal) to get the maximum home price you can afford.

For example, let’s say you have a monthly income of $5,000, monthly debt payments of $1,000, and monthly living expenses of $1,500. Subtracting those expenses from your income leaves you with $2,500. Multiplying that by 0.28 gives you a maximum monthly mortgage payment of $700. Assuming a current interest rate of 4%, you can afford a house that costs up to $175,000.

Please note that this is a very basic calculator and doesn’t take into account other factors such as your credit score, down payment, property taxes, and home insurance. It’s always a good idea to consult with a professional financial advisor or mortgage broker before making any big financial decisions.