Home Affordability Calculator — How Much House Can You Afford?
Find out how much house you can afford based on your income, debts, and down payment.
Enter Your Numbers
Car, student loans, credit cards
Avg US ~1.07%
~0.4% of home value
Your Results
Max Home Price
$358,406
Loan: $298,406
Affordability by DTI Rule
| Annual Income | $100,000 |
| Monthly Gross | $8,333 |
| Existing Monthly Debts | $500 |
| Down Payment | $60,000 |
| Max Monthly Payment | $2,333 |
| Max Loan Amount | $298,406 |
| Max Home Price | $358,406 |
| Debt-to-Income Ratio | 34.0% |
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How This Calculator Works
Max Housing = Gross Monthly Income × 28%
Max Housing (DTI) = Gross Monthly Income × 43% − Monthly Debts
Use the lower of the two. Then reverse the mortgage formula to find the max loan amount, then add your down payment for max home price.
Frequently Asked Questions
At $80K salary, conservative estimate: $280K-$350K home. Using 28% rule: $1,867/month PITI. With 20% down and 7% rate: ~$325K home price.
Housing costs ≤28% of gross income. Total debt ≤36% of gross. On $100K income: max housing $2,333/month, max total debt $3,000/month.
Most lenders prefer 28% or less of gross monthly income. Financial experts often recommend keeping it at 25% of net (take-home) pay for financial flexibility.
Every $10K more in down payment adds ~$58/month purchasing power at 7%. 20% down eliminates PMI ($100-200/month extra on conventional loans).
Property tax (1-2.5% of value), insurance ($100-200/month), HOA fees, maintenance (1% of value/year), utilities increase, closing costs (2-5% at purchase).
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Calculations are for educational purposes only. Consult a qualified financial advisor for personalized advice.