Free USA mortgage affordability calculator
how much house can you afford?
Find your realistic home-buying budget. Enter your income, monthly debts and down payment to see the maximum home price you can afford using the trusted 28/36 rule — plus your monthly payment and debt-to-income ratio.
Max payment under the 28/36 rule $0
Estimates for planning only, not a pre-approval. Includes estimated taxes & insurance; a lender's pre-approval is the number to rely on.
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How to use this mortgage affordability calculator
This free mortgage affordability calculator answers the biggest question in home buying: how much house can I afford? The mortgage affordability calculator uses your income, debts and down payment with the trusted 28/36 rule to estimate a realistic budget in seconds.
Pro tip: Found your budget? Estimate your upfront cash with our down payment calculator and closing cost calculator.
Why use this mortgage affordability calculator?
Most tools just spit out a number. This mortgage affordability calculator shows the full picture: it applies real front-end and back-end DTI limits, factors in PMI, property tax and insurance, and lets you compare three comfort levels side by side. Buyers use this mortgage affordability calculator to set a budget before they fall in love with a home they can't comfortably carry.
How much house can you afford? The 28/36 rule
The most widely used guideline is the 28/36 rule, described by the Consumer Financial Protection Bureau. It says you should spend no more than 28% of your gross monthly income on housing (your "front-end" ratio) and no more than 36% on total debt including the mortgage (your "back-end" ratio). Staying within these limits keeps your budget comfortable and helps you qualify with most lenders.
| Ratio | What it covers | Target |
|---|---|---|
| Front-end (housing) | Mortgage principal, interest, taxes, insurance, PMI, HOA | ≤ 28% of income |
| Back-end (total debt) | Housing + car, student loans, credit cards | ≤ 36% of income |
Lenders often allow higher ratios — up to 43% or even 50% DTI on some loans — but just because you can borrow more doesn't mean you should.
Income needed to afford a home
Here's roughly the gross annual income you'd need to comfortably afford homes at different price points, assuming 20% down, a 6.5% rate, no other debts, and the 28% housing rule. Your own number changes with debts, down payment and rate.
| Home price | Est. income needed | Est. monthly payment |
|---|---|---|
| $300,000 | ~$83,000 | ~$1,940 |
| $400,000 | ~$111,000 | ~$2,590 |
| $500,000 | ~$139,000 | ~$3,240 |
| $600,000 | ~$166,000 | ~$3,890 |
| $750,000 | ~$208,000 | ~$4,850 |
What is debt-to-income (DTI) ratio?
Your debt-to-income ratio is your total monthly debt payments divided by your gross monthly income. It's one of the most important numbers a lender looks at, because it measures how much of your income is already committed. A lower DTI means more room for a mortgage — and often a better shot at approval and a good rate.
What lenders look at besides income
Income and DTI are just the start. Lenders also weigh your credit score (which drives your interest rate), your down payment and cash reserves, and your employment history. Improving any of these can raise how much house you can afford — a higher credit score in particular can lower your rate and stretch your budget.
How to afford more house
If the number above is lower than you hoped, several levers can raise your budget without stretching your finances dangerously.
| Strategy | How it helps |
|---|---|
| Pay down existing debt | Lowers your back-end DTI, freeing room for a bigger mortgage |
| Save a larger down payment | Cuts your loan, removes PMI at 20%, and raises your price ceiling |
| Improve your credit score | A lower rate directly increases how much home you can afford |
| Add a co-borrower | Combining incomes raises the qualifying limit |
| Shop lenders and rates | Even 0.25% off your rate meaningfully changes your budget |
| Consider a longer term | A 30-year term lowers the monthly payment vs. a 15-year |
Just because a lender approves you for a bigger loan doesn't mean it fits your life. Leave room for savings, emergencies and the other costs of owning a home.
How much house can I afford on my salary?
One of the most common questions buyers ask this mortgage affordability calculator is how much house they can afford on a specific salary. The table below shows a rough estimate by annual income, assuming a 20% down payment, a 6.5% rate, a 30-year term, and no other monthly debt. Your real number moves with your debts, down payment, credit and location.
| Annual salary | Est. home price | Max housing payment |
|---|---|---|
| $45,000 | ~$150,000 | ~$1,050/mo |
| $50,000 | ~$170,000 | ~$1,167/mo |
| $60,000 | ~$209,000 | ~$1,400/mo |
| $75,000 | ~$268,000 | ~$1,750/mo |
| $100,000 | ~$366,000 | ~$2,333/mo |
| $120,000 | ~$444,000 | ~$2,800/mo |
| $150,000 | ~$561,000 | ~$3,500/mo |
| $200,000 | ~$756,000 | ~$4,667/mo |
These are planning estimates. Monthly debts lower these numbers fast — every $500 of monthly debt cuts your budget by roughly $80,000 to $100,000 of home price. Enter your real numbers in the calculator above for a personal figure.
Conforming loan limit & jumbo loans (2026)
If the home price this mortgage affordability calculator gives you is high, your loan type matters. In 2026 the conforming loan limit — the most you can borrow with a standard Fannie Mae or Freddie Mac loan — is $832,750 in most of the country and $1,249,125 in designated high-cost areas. Borrow more than that and you enter jumbo loan territory, which usually means stricter credit, larger down payment and slightly different rates.
What lenders check besides income
Affordability isn't just income and debts. Lenders also weigh your credit score (which sets your rate), down payment, employment history, and cash reserves — many want to see two to six months of housing payments saved after closing. Strengthening any of these can raise how much home you can afford.
FHA vs conventional: which lets you afford more?
Loan type changes your affordability. FHA loans allow higher debt-to-income ratios — often up to about 45%, sometimes higher with strong compensating factors — and only 3.5% down, so buyers with more debt or less cash can sometimes qualify for a bigger home. Conventional loans reward strong credit and a 20% down payment with no PMI and often a lower rate. VA and USDA loans allow 0% down for eligible buyers, which frees up cash and can raise your price ceiling.
Run the calculator above with a lower down payment to model an FHA scenario, or 20% down to model a no-PMI conventional purchase.
Sources & references
The affordability rules and figures in this mortgage affordability calculator guide are based on public USA lending standards. For official, current details, review these authoritative resources:
- Consumer Financial Protection Bureau — Owning a Home — official guidance on affordability, DTI and getting a mortgage.
- Fannie Mae — conforming loan standards and debt-to-income limits.
- Freddie Mac — Primary Mortgage Market Survey — weekly national average mortgage rates.
- U.S. Department of Housing and Urban Development (HUD) — FHA loans and homebuyer assistance programs.
DTI limits, rates and programs change — always confirm current details on the official source above or with a licensed lender.