How Much House Can You Afford?
Estimate the home price you can afford from income, debts, down payment and today's mortgage rate using adjustable housing and debt ratios, with taxes, insurance, HOA and estimated PMI.
Set housing and total-debt ratios, then estimate a home price within that monthly budget. The default 28% and 36% ratios are planning assumptions; lenders use different criteria. Taxes, insurance, HOA and an illustrative PMI premium are included.
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Quick answers
Common cases, computed by this calculator with the assumptions listed under the method. Select one to load it above.
- How much house can I afford on $80,000 a year with $500 in monthly debts and $30,000 down?
- $243,710 Maximum home price Open in the calculator
- How much house on $150,000 a year with no debts and $60,000 down?
- $476,877 Maximum home price Open in the calculator
- How much house on $60,000 a year with $300 in debts and $15,000 down?
- $171,408 Maximum home price Open in the calculator
How the budget is calculated
The housing budget is the lower of gross monthly income times the housing ratio, or gross monthly income times the total-debt ratio minus other debt payments. We solve for the home price whose principal, interest, tax, insurance and HOA fit that budget.
PMI and the down payment
Below 20% down, the model adds an illustrative annual PMI premium of 0.8% of the loan. Actual premiums vary; this is not a lender quote. At 20% down the premium is removed, so the affordable-price result can jump at that threshold. If taxes, insurance and HOA alone exceed the budget, no financed purchase is shown.
What it leaves out
Closing costs, maintenance, moving, lender-specific eligibility and adjustable rates. The calculated maximum is a budget estimate, not an approval. See CFPB guidance on PMI.
Calculation notes updated .