Step 1 of 5 — How much can I afford?
Find out how much house you can afford based on your income, debts, and down payment.
Car, student loans, credit cards
Avg US ~1.07%
~0.4% of home value
Loan: $298,406
| 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% |
Email your detailed breakdown with amortization schedule
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You can afford up to $0 — now calculate your exact monthly payment.
Open Mortgage Payment with your numbersMax 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.
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).
Calculations are for educational purposes only. Consult a qualified financial advisor for personalized advice.