🏠 House Affordability Calculator

Calculate how much house you can afford based on your income, debts, and down payment.

Annual Gross Income ($)

Monthly Debt Payments ($) Car loans, credit cards, student loans, etc.

Down Payment ($)

Interest Rate (%)

Loan Term (years)

Annual Property Tax ($)

Annual Home Insurance ($)

❓ Home Affordability FAQs

How much house can I afford with my salary?

A general rule is that your home price should be 2.5 to 3 times your annual gross income. With a $75,000 salary, you could afford a home between $187,500 and $225,000. However, this also depends on your debts, down payment, and interest rates.

What is the 28/36 rule for home affordability?

The 28/36 rule states that your housing costs should not exceed 28% of your gross monthly income, and your total debt payments should not exceed 36% of your gross monthly income. Lenders use this to determine how much you can borrow.

How much down payment do I need?

Conventional loans typically require 20% down to avoid PMI (Private Mortgage Insurance). However, FHA loans allow as little as 3.5% down, and VA loans (for veterans) can be 0% down. A larger down payment reduces your monthly payment and total interest paid.