How much house can I afford?
Based on your income, debts, and standard lender debt-to-income limits — not a rough multiplier of your salary.
Your housing payment itself is the binding constraint — this is the typical case with low other debt.
Balance over time
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| Year 1 | $2,818 | $16,876 | $254,158 |
| Year 2 | $3,010 | $16,684 | $251,148 |
| Year 3 | $3,215 | $16,480 | $247,933 |
| Year 4 | $3,433 | $16,261 | $244,500 |
| Year 5 | $3,667 | $16,027 | $240,833 |
| Year 6 | $3,916 | $15,778 | $236,916 |
| Year 7 | $4,183 | $15,511 | $232,733 |
| Year 8 | $4,468 | $15,227 | $228,266 |
| Year 9 | $4,771 | $14,923 | $223,494 |
| Year 10 | $5,096 | $14,598 | $218,398 |
| Year 11 | $5,443 | $14,252 | $212,955 |
| Year 12 | $5,813 | $13,881 | $207,142 |
| Year 13 | $6,209 | $13,486 | $200,934 |
| Year 14 | $6,631 | $13,063 | $194,303 |
| Year 15 | $7,082 | $12,612 | $187,220 |
| Year 16 | $7,564 | $12,130 | $179,656 |
| Year 17 | $8,079 | $11,616 | $171,578 |
| Year 18 | $8,628 | $11,066 | $162,950 |
| Year 19 | $9,215 | $10,479 | $153,735 |
| Year 20 | $9,842 | $9,852 | $143,892 |
| Year 21 | $10,512 | $9,183 | $133,381 |
| Year 22 | $11,227 | $8,468 | $122,154 |
| Year 23 | $11,991 | $7,704 | $110,163 |
| Year 24 | $12,806 | $6,888 | $97,357 |
| Year 25 | $13,678 | $6,017 | $83,679 |
| Year 26 | $14,608 | $5,086 | $69,071 |
| Year 27 | $15,602 | $4,092 | $53,469 |
| Year 28 | $16,664 | $3,031 | $36,805 |
| Year 29 | $17,797 | $1,897 | $19,008 |
| Year 30 | $19,008 | $686 | $0 |
| Year 31 | $0 | $0 | $0 |
How this is calculated
Lenders cap how much of your income can go toward housing (front-end DTI) and toward all debts combined (back-end DTI). We calculate the maximum monthly payment allowed under both limits — whichever is stricter wins — then solve for the home price that produces exactly that payment, including estimated taxes, insurance, PMI, and HOA. Conventional guidelines cap housing at 28% of gross income and total debt at 36%.
Frequently asked questions
How much house can I afford based on my salary?
A common rule of thumb is 3–5 times your gross annual income, but the more accurate answer depends on your down payment, debts, interest rate, and a lender's debt-to-income limits. Enter your numbers above for a figure based on actual DTI math rather than a rough multiplier.
What is front-end vs back-end DTI?
Front-end DTI is your housing payment alone divided by gross income. Back-end DTI adds in all your other debts — car payments, student loans, credit cards. Lenders check both; whichever is stricter sets your borrowing limit.
Does paying off debt increase how much house I can afford?
Often yes. If your back-end DTI is the binding constraint (shown in the results above), reducing other monthly debts directly raises the home price you qualify for, sometimes significantly.
Why does this calculator show a lower number than a lender's pre-approval?
This estimate uses standard DTI guidelines and a default PMI rate. Actual pre-approval also factors in your credit score, cash reserves, employment history, and the specific lender's overlays, which can move the number in either direction.