How Much House Can You Afford?

Enter your income, debts, and savings to see your estimated buying power under each loan program's qualifying guidelines — Conventional, FHA, and VA.

Affordability FAQs

What is a debt-to-income ratio and why does it matter?

Your debt-to-income (DTI) ratio is your total monthly debt payments divided by your gross monthly income. Lenders use it to gauge how much of your income is already committed. Conventional loans typically allow a total DTI up to 50%, FHA up to 57% with a 47% housing limit. The lower your DTI, the more buying power you have.

How much house can I afford on my income?

A common starting guideline is keeping total housing costs (mortgage, taxes, insurance, HOA) under about 28–33% of gross monthly income. But the real ceiling depends on your total debts, the loan program you use, your credit score, and your down payment. Use the affordability calculator to see your estimated buying power under each loan type.

Does the size of my down payment affect how much I qualify for?

Yes. A larger down payment reduces the loan amount and, on conventional loans, can eliminate PMI — both of which lower your monthly payment and increase how much home you can afford on the same income. It also improves your loan-to-value ratio, which can unlock better interest rates.

Why does my affordability number differ between FHA, VA, and conventional loans?

Each program uses different qualifying ratios and mortgage insurance rules. FHA adds an upfront mortgage insurance premium (1.75%) and an annual MIP (~0.55%), which reduces buying power. VA loans require no down payment and no mortgage insurance, typically producing the highest estimate. Conventional varies based on PMI tier and credit profile.

What costs should I budget for beyond the mortgage payment?

Beyond principal, interest, taxes, and insurance, plan for HOA fees (if applicable), ongoing maintenance (typically 1–2% of home value per year), utilities, and moving costs. A payment that maxes your qualifying limit leaves nothing for these real costs of homeownership.