U.S. mortgage planning
How much house can I afford?
Type your salary and get a maximum price from debt-to-income caps you can edit, with tax, insurance, HOA and PMI included.
Your numbers
Affordability estimate
How the estimate works
Your maximum monthly housing payment is the smaller of two caps: the front-end cap (a percentage of gross monthly income, 28% by default) and the back-end cap (a percentage of gross monthly income, minus your other monthly debts). The calculator then works backward: it subtracts insurance and HOA, and solves for the price at which principal and interest on the loan (price minus down payment), property tax and, if the down payment is under 20% of the price, PMI add up to that payment.
Worked example, $100,000 income. Gross monthly income is $8,333. The 28% cap is $2,333; the 36% cap less $500 of debts is $2,500, so the front-end cap binds. Insurance takes $150 a month, leaving about $2,183 for principal, interest, tax and PMI. With $40,000 down at 6.5% over 30 years, 1.1% property tax and 0.5% PMI, that supports a price of about $320,463 and a loan of about $280,463 (P&I $1,773, tax $294, PMI $117).
Sources and as-of date. Debt-to-income limits: Fannie Mae Selling Guide B3-6-02, Debt-to-Income Ratios (page dated 2025-04-02, read 2026-09-30): 36% maximum for manually underwritten loans, up to 45% with credit score and reserve conditions, 50% for DU casefiles. The 28% front-end ratio is a rule of thumb, not a regulation; Fannie Mae's total-DTI limits include all monthly debt obligations. The rate, tax, insurance, HOA and PMI values are placeholders for the example, not market quotes; replace them with your own Loan Estimate or lender figures. P&I uses the standard fixed-rate amortization formula.
In Canada? Lenders use different ratios and a stress test; use the Canadian mortgage affordability calculator.
This tool is a planning estimate, not a pre-approval, loan offer or financial advice. Lenders also weigh credit history, reserves, closing costs and program rules.
Frequently asked questions
How much house can I afford on a $100,000 salary?
With the example inputs above ($500 in monthly debts, $40,000 down, 6.5% over 30 years, 1.1% property tax, $1,800 insurance, 0.5% PMI and no HOA), the 28% rule-of-thumb cap binds and the estimate is about $320,000. Change any input and the answer moves, so use your own figures.
What about $150,000 or $200,000?
Holding every other input the same, $150,000 gives about $473,000 and $200,000 about $625,000. Put your salary in the calculator; there is no separate page per salary because the method is identical.
Is 28% a rule?
No. The 28% front-end ratio is a common rule of thumb, not a regulation, which is why the cap is editable. Fannie Mae's Selling Guide (B3-6-02) sets limits on the total debt-to-income ratio, not on housing alone.
What debt-to-income limit does Fannie Mae use?
Its Selling Guide, page dated April 2, 2025, says the maximum total DTI is 36% for manually underwritten loans, up to 45% when credit score and reserve requirements are met, and 50% for loans run through Desktop Underwriter. The back-end field defaults to 36% and you can set 45 or 50.
Why does a bigger down payment raise the price so much?
It lowers the loan your payment must support and, at 20% or more of the price, removes the PMI line. Every dollar down adds roughly a dollar of price, while the payment cap only funds the financed part.
Does this include closing costs or reserves?
No. Lenders also weigh credit, cash reserves and closing costs. This is a planning estimate, not a pre-approval.