are online mortgage calculators that tell you “how much can you afford” accurate?

My monthly income is 5500 before taxes. I have no debt (i even own my car) and I have 20k to put down and it is telling me that I can only get a loan on 200k house????? I know a friend of mind who makes less than I do who got a loan for 300k just last year. What is the deal.
oh, and my credit score is 730

To be honest, if the calculator says you can afford 200k, in reality it’s probably 150k. They overinflate the numbers in the hopes that you’ll go in and try to get a loan.