Before you dive into the house hunt, having a good handle on your budget is crucial — specifically, how much you can afford to pay monthly on your mortgage payment. There are several ways to gauge this, but one of the most popular strategies is called the “28/36 rule.” This rule can help you determine how much house you can afford. The 28/36 rule when buying a home The 28/36 rule is a common guideline for determining what you can spend on a home. The rule says you should spend no more than 28% of your g ...