Home Affordability Calculator
Find how much house you can afford from your income, monthly debts and down payment. It applies conventional 28/36, FHA 31/43 and VA 41% debt-to-income rules and includes property tax, insurance, HOA and mortgage insurance.
Home affordability calculator
How much house can I afford? The DTI rules lenders use
- Conventional 28/36: housing costs (PITI + HOA + PMI) up to 28% of gross monthly income, and all debts up to 36%. Fannie Mae's automated underwriting can approve up to 45% to 50% total DTI with strong credit and reserves.
- FHA 31/43: 3.5% minimum down with a 580+ score; the payment includes 0.55% annual MIP and the 1.75% upfront premium is financed.
- VA 41%: no down payment required; lenders look at 41% total DTI and the VA's residual-income test.
The calculator searches for the highest price where both ratios hold, including property tax, insurance, HOA and mortgage insurance.
How much house can I afford on an $80k salary?
With $80,000 of income, $500 of other debts, $40,000 down, 6.5% for 30 years, 1.1% tax and $1,800 insurance, the 28/36 rule gives a budget of about $259,000. The binding limit is the 28% housing ratio: $1,867 a month for the full house payment (the 36% rule would allow $2,400 − $500 = $1,900).
How much house can a 100k salary afford?
With the same assumptions and $100,000 of income, about $320,000. The 28% housing limit of $2,333 a month binds; the 36% rule leaves $2,500 after $500 of debts, so other debts up to about $667 a month don't lower the budget. Every 1 percentage point of mortgage rate changes the answer by roughly 10%.
How much house can I really afford? Beyond the lender's number
Lenders approve what you can borrow, not what fits your life. Leave room for maintenance (1% to 2% of the home's value a year), utilities, retirement saving and an emergency fund. Many planners aim for total housing costs of 25% of take-home pay. Mortgage affordability formula, in short: max payment = min(28% × income, 36% × income − debts), then find the price whose PITI equals that payment.
How much house can I afford 80k salary, and other ways to ask
"How much house can I afford 80k salary" and "how much house can 100k salary afford" are answered above. The same tool works as a home loan affordability calculator, house affordability calculator, house loan affordability calculator and mortgage loan affordability calculator, and answers "how much home afford calculator", "how much home calculator", "how much house afford calculator", "how much house can we afford calculator", "how much house could I afford calculator" and "how much house can I really afford calculator" questions. For "how expensive of a home can I afford calculator" and "how expensive of a house can I afford calculator", the answer is the max home price line.
Common questions
How much house can I afford?
Typically a price where housing costs are under 28% of gross monthly income and all debts under 36%.
How much house can I afford with an 80k salary?
About $259,000 with $500 of other debts, $40,000 down, 6.5% rates and typical taxes and insurance.
How much house can 100k salary afford?
About $320,000 with $40,000 down at 6.5% and typical taxes and insurance, as long as other debts stay under about $667 a month.
What is the 28/36 rule?
Housing up to 28% of gross income and total debts up to 36%.
Do FHA loans let me afford more?
FHA allows a 43% total DTI and 3.5% down, but adds mortgage insurance, so the price may not be much higher.
Sources
- CFPB: What is a debt-to-income ratio?
- HUD: FHA single family housing policy handbook 4000.1
- VA: Home loan eligibility and requirements
Related
- Mortgage payment calculator
- FHA and VA mortgage calculator
- Loan to income ratio calculator
- Closing cost calculator
General information, not financial, tax or legal advice. Check important numbers with the official source before acting on them.