How much house can I afford?
Most affordability calculators are wrong. They give you a single max number based on a generic 28%/36% rule and call it a day. The real answer has two parts: what lenders will approve under each program, and what's actually comfortable to live with. This calculator shows both.
What brings you here today?
Tell us about your file
- No SSN at this stage
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All numbers are estimates based on the inputs above. Actual approval depends on automated underwriting, credit history, employment, reserves, and program-specific overlays. Run the same scenario through our full mortgage calculator for the monthly payment view, or the DTI check to stress-test your debt load.
"Approved" doesn't mean "can afford."
Lenders qualify you on debt-to-income ratio — what percentage of your gross income goes to housing plus debts. FHA stretches to 43%. Conventional pushes 50% with strong files. VA has no formal cap.
None of those numbers tell you whether you'll be comfortable. A 43% back-end DTI means almost half of every pre-tax dollar goes to housing and existing debts. Add taxes, retirement, savings, and basic life — and the margin disappears fast.
The classic 28/36 rule — 28% of gross income on housing, 36% on total debts — is what most financial advisors quietly target. Not because lenders enforce it. Because it's the line above which borrowers tend to feel squeezed.
The honest answer to "how much can I afford?" depends on what you mean. If "afford" means "qualify", the calculator above shows your max. If "afford" means "comfortable", look at the comfort number. The space between them is choice — not paperwork.
Four borrowers, four budgets.
Quick reference: roughly what each income level can buy under each program, assuming average debt load ($400/mo), 700 FICO, and 6.5% rate. Your file will produce different numbers— but this gives you the shape of the answer.
| Profile | FHA 3.5% down | Conv 97 3% down | VA 0% down | USDA 0% down |
|---|---|---|---|---|
| Single earner$55,000/yr · ~$4,580/mo$5K saved · 700 FICO | $235,000 | $215,000 | $285,000 | $270,000 |
| Dual income, just married$95,000/yr · ~$7,920/mo$15K saved · 720 FICO | $435,000 | $405,000 | $485,000 | $465,000 |
| Established couple$165,000/yr · ~$13,750/mo$50K saved · 750 FICO | $695,000 | $815,000 no PMI at 20% | $835,000 | $745,000 |
| High earner, low debt$285,000/yr · ~$23,750/mo$120K saved · 780 FICO | $1,050,000 | $1,295,000 jumbo above limit | $1,400,000+ | — over income cap |
Estimates assume 30-year fixed, 6.5% rate, $400/mo other debt, average county property tax (1.1%) and insurance ($150/mo). Highlighted cell = strongest fit for that profile. USDA assumes income under cap and eligible property.
Six things lenders look at.
DTI is a quick filter. But automated underwriting (Fannie Mae's DU, Freddie's LPA, FHA's TOTAL Scorecard, USDA's GUS) weighs your entire file — and the things below matter as much or more in borderline cases.
Reserves after closing
Cash left over after down payment + closing costs. Most programs want 2–6 months of mortgage payments in reserve. Higher-DTI files often pass on the strength of reserves alone.
Credit history, not just score
A clean 12-month history beats a 740 score with recent late payments. Lenders pull a tri-merge and read it line-by-line. Stability counts.
Employment stability
2 years in the same line of work is the standard. Job-hops within the same field are fine. Career switches close to closing trigger extra scrutiny.
Payment shock
If your new mortgage is roughly the same as your current rent, lenders are confident you can handle it. Big jumps from rent → mortgage tighten the file.
Down payment source
Has the cash been in your account 60+ days ("seasoned")? Came from a documented gift? Sale of an asset? Mystery deposits in the last 60 days will need explanation.
Property condition
Government-backed loans (FHA, VA, USDA) require minimum property standards. Fixer-uppers can flag issues — sometimes blocking the deal until repairs are made.
Six questions, answered honestly.
No marketing copy. The biggest affordability misunderstandings are about DTI math, the "28% rule," and the difference between qualifying and being comfortable. Let's clear those up.
Front-end DTI = housing only. Mortgage P&I, taxes, insurance, mortgage insurance, HOA — divided by gross monthly income. Usually targeted at 28–31%.
Back-end DTI = housing + every other debt. Add credit card minimums, car loans, student loans, alimony, child support. Usually capped at 43–50% depending on program.
When someone says "DTI" without specifying, they usually mean back-end. It's the more important of the two for qualifying. The front-end ratio is the one to watch for comfort — it tells you whether housing alone is going to stress your budget.
Yes — for comfort, not for qualifying. The 28/36 rule was developed in an era of lower home prices and lower rates. In high-cost markets, hitting 28% on housing means buying significantly less house than your income would technically support.
That said, the rule is a useful floor for comfort. Borrowers who keep front-end DTI at or below 28% almost never feel financially squeezed. Borrowers above 35% front-end often start feeling it within 1–2 years.
Use the comfort slider above to see what 28% looks like on your file. If you're in a high-cost area, you may need to stretch — but understand that's a trade-off, not free money.
Include: credit card minimum payments (not full balances), car loan payments, student loan payments, personal loan payments, alimony, child support, IRS payment plans.
Exclude: rent, utilities, groceries, gas, insurance premiums you pay monthly, 401(k) contributions, gym memberships, streaming services. These are expenses, not debts.
Student loans get tricky. Lenders use the actual payment on your credit report. For income-driven repayment plans showing $0, FHA uses 1% of the balance; VA uses the actual payment; Conventional varies. If you're on IDR with $0 payments, talk to your LO before applying.
Each program has its own DTI ceiling and its own cost structure:
FHA stretches DTI furthest (43% standard, 57% with comp factors), but charges 1.75% upfront MIP and 0.55% annual MIP — those add to monthly payment, which reduces the max house price you can support.
Conventional caps tighter (45–50%) but has cancellable PMI and no upfront fee for stronger credit profiles. The PMI rate scales with FICO.
VA has no formal DTI cap and no monthly mortgage insurance — which is why it usually produces the highest max house price for eligible borrowers.
USDA caps DTI tighter (41%) but has 0% down + low fees, so it can compete on max price for borrowers in eligible areas.
The calculator above runs the math for each program separately and shows you the four answers side-by-side.
Most programs require 2 months of mortgage payments in documented reserves. Conventional manually-underwritten files can require 6 months or more for higher-DTI borrowers. Jumbo loans typically want 6–12 months.
Beyond what's required: aim for 3–6 months of total household expenses as a personal cushion. That covers job loss, major repairs, medical surprises. Don't drain your savings to maximize your purchase price — the higher house isn't worth being one bad week from default.
Usually, yes. Adding a co-borrower combines both incomes and both debts — generally producing a higher max approval if the co-borrower's income exceeds their debts.
Three things to know:
(1) Both borrowers' credit is pulled. The lender uses the lower middle FICO of the two for pricing.
(2) Both borrowers' debts count, even if you keep separate finances day-to-day.
(3) Some programs (HomeReady, Home Possible) allow non-occupant co-borrowers — a parent or family member who signs the loan but doesn't live in the home. This can dramatically increase your qualifying income.
If you're considering a co-borrower, run both scenarios on the call. Sometimes one borrower alone qualifies for more than the pair, due to debt or credit issues on the second file.
Now you have a number.
Sixty-second short app. No SSN. No hard credit pull. We'll run the numbers for your specific file and turn the calculator estimate into a real pre-approval letter you can take to a seller. That's how this should work.