What the monthly payment covers
$2,800 per month in total, inside a 36% debt-to-income limit.
Share of your monthly income committed
Housing plus existing debts, against $9,167/mo gross. Lenders commonly cap this around 36%.
Payment breakdown
About the home affordability calculator
Instead of starting with a home price and working out the payment, this calculator runs the math in reverse: it starts with your income and tells you the maximum price you can responsibly afford. It uses the debt-to-income (DTI) approach lenders rely on — the share of your gross monthly income that can go to housing plus other debts.
Because property taxes and insurance depend on the home’s value (and the value depends on your budget), the tool solves it iteratively until the numbers line up, then shows your full monthly payment — principal, interest, taxes and insurance (PITI).
A common guideline is that no more than 28% of your gross monthly income should go to housing, and no more than 36% to all debts combined (housing plus car loans, student loans, credit cards). This calculator defaults to a 36% total DTI limit; lower it to be conservative or raise it to see a lender’s maximum. A bigger down payment and a lower rate both raise the price you can afford.
Frequently asked questions
How much house can I afford on my salary?
A common rule is that your home price can be roughly 3–5 times your annual income, but the real limit depends on your down payment, interest rate, other debts and the debt-to-income ratio lenders allow. Enter your numbers above to see your specific maximum price and monthly payment.
What is the 28/36 rule?
It suggests keeping housing costs at or below 28% of your gross monthly income and total debt payments at or below 36%. Staying within these limits helps ensure the payment is sustainable and improves your chances of loan approval.
Does a bigger down payment let me afford more?
Yes. Your monthly payment is based on the loan amount, so a larger down payment means a bigger home for the same payment — and it can also help you avoid private mortgage insurance (PMI) if you reach 20% down.
Is this a mortgage pre-approval?
No. This is an estimate to guide your search. Lenders also consider your credit score, employment history, exact property taxes, HOA fees and PMI. Get a pre-approval from a lender before making an offer.