Home Affordability Calculator — How Much House Can I Buy?
Lenders size your mortgage with two ratios: housing costs under ~28% of gross monthly income, and all debts under ~36%. Enter your income, monthly debts, and down payment to see the maximum home price that fits.
Car loans, student loans, credit card minimums.
- Maximum loan
- $316,738.06
- Est. monthly payment (PITI)
- $2,566.67
How this calculator works
- The 28/36 rule caps housing at 28% of gross monthly income and total debt service at 36%. The stricter of the two limits sets your housing budget.
- About 22% of the budget is reserved for property taxes and insurance; the remainder is converted into a loan amount using the payment formula at today's rate, then your down payment is added.
- This mirrors lender pre-qualification logic — actual approval also weighs credit score, reserves, and property specifics.
Frequently asked questions
How much house can I afford on $100k a year?
At a 6.5% rate with modest debts and 20% down, roughly a $380,000–$430,000 home keeps you within the 28/36 guideline. Lower debts and rates push it higher.
Can I qualify with a higher DTI?
FHA loans routinely allow back-end DTI up to ~50% with compensating factors. Qualifying for more doesn't mean it's comfortable — budget for maintenance, utilities, and savings.
How much down payment do I need?
Conventional minimum is 3–5% (with PMI), FHA 3.5%, VA/USDA 0%. 20% avoids PMI entirely and lowers the payment.
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Disclaimer: Results are estimates for educational purposes only and are not tax, legal, or financial advice. Tax rules are simplified (credits, phase-outs, and local taxes may not be modeled). Verify important decisions with the IRS, your state tax authority, or a licensed professional.