How much house can I afford by salary?
*Assumes 6.5% 30-year fixed rate, 10% down, no other monthly debts and about 1.2%–1.6% of the price per year for taxes and insurance combined. Use our calculator for your exact numbers.
| Annual salary | 28% monthly housing budget | Approx. home price* |
|---|---|---|
| $50,000 | $1,167 | $160,000–$190,000 |
| $75,000 | $1,750 | $250,000–$290,000 |
| $100,000 | $2,333 | $330,000–$390,000 |
| $125,000 | $2,917 | $420,000–$490,000 |
| $150,000 | $3,500 | $500,000–$590,000 |
What counts toward debt-to-income?
- Minimum credit card payments
- Auto, student and personal loan payments
- Child support or alimony
- The new mortgage payment (principal, interest, taxes, insurance, HOA, mortgage insurance)
How can I afford more house?
- Pay off small debts before applying.
- Raise your credit score to get a lower rate.
- Look at FHA, VA or USDA programs or down payment assistance.
- Buy points or shop multiple lenders for a lower rate.
Frequently asked questions
Not necessarily. Leave room for savings, repairs (budget 1%–2% of the home's value yearly) and other goals.
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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.