Find out how much house you can afford based on your income and expenses
Maximum Home Price
$569,622
Maximum Monthly Payment
$2,333
Recommended Down Payment (20%)
$113,924
Determining how much house you can afford is a crucial first step in the home buying process. Different financial experts and institutions have varying guidelines for what constitutes an "affordable" home purchase.
This traditional rule states that:
Financial expert Dave Ramsey recommends:
A simple rule of thumb suggests that you can afford a home that costs:
Beyond these rules, consider these important factors when determining how much house you can afford:
Remember that just because you can qualify for a certain mortgage amount doesn't mean you should borrow that much. Consider your comfort level with the monthly payment and ensure you have room in your budget for other financial goals and unexpected expenses.
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ChangelogPrivacy PolicyTerms of ServiceBlogClosingWTF Inc is currently NMLS licensed in the US states OR, CO, and TX.
All loan products and financial services are provided by ClosingWTF Inc., NMLS #2688565 ("ClosingWTF"). You are not required to use ClosingWTF Inc for your mortgage needs and may be able to obtain lower rates or fees through a different mortgage lender or broker. This is not a commitment to lend. All offers are subject to submitting a complete loan application and obtaining full underwriting approval. Loan terms are subject to change. Only the most qualified applicants will be approved for ClosingWTF Inc’s lowest rates. Not available in all states. We are an Equal Housing Lender.