How much income do I need to buy a house?

It depends on the price, your debts and current rates. Lenders look at your debt-to-income ratio rather than income alone, so reducing monthly debt can boost how much home you qualify for at the same salary.

What debt-to-income ratio do lenders want?

Most conventional loans target a DTI of 43% or below, including your new mortgage payment. Some loan programs allow higher ratios with strong credit and reserves.

Does a bigger down payment help me afford more?

Yes. A larger down payment lowers your loan amount and monthly payment, removes PMI above 20%, and can raise the total price you qualify for.

Home Affordability Calculator

Find out how much house you can afford based on your income, debts and down payment.

Gross annual income

Monthly debt payments

Down payment

Interest rate

Loan term

What you can afford

Maximum home price$552,030

Estimated monthly payment$3,800

Loan amount$492,030

Down payment$60,000

Based on a 43% debt-to-income limit and an estimated 1.5% for taxes and insurance. Lenders may qualify you for more or less.

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About this calculator

The home affordability calculator answers the question every buyer starts with: how much house can I actually afford? Enter your gross annual income, recurring monthly debts, planned down payment, interest rate and loan term, and we estimate the maximum home price a lender is likely to approve.

Affordability is driven by your debt-to-income (DTI) ratio. Lenders generally cap your total monthly housing payment plus other debts at around 43% of your gross monthly income. Our calculator works backward from that limit — accounting for estimated taxes and insurance — to find the highest price that keeps you within a safe DTI.

Remember that the maximum a lender will approve is not always the amount you should spend. Leaving room in your budget for maintenance, savings and life keeps homeownership comfortable. Use the sliders to see how paying down debt or saving a larger down payment increases your buying power, then get a personalized quote to confirm the numbers with a real lender.

Frequently asked questions

How much income do I need to buy a house?: It depends on the price, your debts and current rates. Lenders look at your debt-to-income ratio rather than income alone, so reducing monthly debt can boost how much home you qualify for at the same salary.
What debt-to-income ratio do lenders want?: Most conventional loans target a DTI of 43% or below, including your new mortgage payment. Some loan programs allow higher ratios with strong credit and reserves.
Does a bigger down payment help me afford more?: Yes. A larger down payment lowers your loan amount and monthly payment, removes PMI above 20%, and can raise the total price you qualify for.

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