Home affordability calculator
See the home price your income supports, using the same 28/36 debt-to-income limits a lender applies. Adjust your down payment, rate, and other debt to see what moves the number.
A household earning $150,000 with $500 a month of other debt and $60,000 down can afford about $466,996 at a 7% rate, with a monthly payment near $3,500.
Gross, before tax
Car, student loans, card minimums
Annual, as a share of home value
Monthly, if any
With $100,000 down, that is a $417,148 loan at 6.5% over 30 years.
Everything the lender counts as housing cost
Under 20%, so PMI applies
Your income is the limit here
- Principal and interest
- $2,637
- Property tax
- $474
- Homeowners insurance
- $215
- Mortgage insurance (PMI)
- $174
- Total
- $3,500
Estimates only, not a lending decision or financial advice. Uses the conventional 28/36 debt-to-income limits, treats property tax and insurance as a share of home value, and applies PMI above 80% loan-to-value. Excludes closing costs, cash reserves, and any rate difference tied to your down payment or credit.
What different incomes can afford
| Household income | Price at 6% | Payment at 6% | Price at 7% | Payment at 7% |
|---|---|---|---|---|
| $75,000 | $250,773 | $1,750 | $233,498 | $1,750 |
| $100,000 | $334,364 | $2,333 | $311,331 | $2,333 |
| $150,000 | $501,546 | $3,500 | $466,996 | $3,500 |
| $200,000 | $668,729 | $4,667 | $622,662 | $4,667 |
Assumes a down payment of 40% of annual income, $500 a month of other debt, a 30-year term, 1.1% property tax, 0.5% insurance, and no HOA dues.
How the number is worked out
Start with gross monthly income. The front-end limit allows 28% of it for housing. The back-end limit allows 36% for housing plus every other debt payment, so your car loan and student loans come straight off the top. The smaller of the two is your housing budget.
That budget then has to cover more than the mortgage. Property tax, insurance, HOA dues, and PMI all come out of it first, and what is left supports the loan. Because tax and insurance scale with the house, a bigger purchase raises its own carrying cost, so the price is solved rather than divided out.
Two levers move the answer most. A lower rate buys more house for the same payment, and crossing 20% down removes PMI, which frees the whole premium to service the loan instead. Check what your equity looks like later with the home equity calculator , see how the same money compounds if invested instead with the compound interest calculator , or book a free consultation .