If working out the 28/36 rule is a little too complicated, a good rule of thumb is that you can usually borrow up to 2.5 times your annual gross salary. However, your maximum mortgage will be calculated by your income to debt ratio, the down payment, your credit report and the purchase price of the home.
So, using this basic calculation, if you earn $50,000 a year, you could obtain a mortgage of up to $125,000.