Finance

Home Affordability: How Much House?

Determine how much house you can afford.

Estimate affordable home price.

28/36 Rule

Housing ≤28% gross. Total debt ≤36%.

Key Factors

Gross income
Down payment (20% avoids PMI)
Existing debts
Interest rate
Taxes & insurance

Beyond Payment

Closing costs (2-5%), maintenance (1%/yr), HOA.

Pre-Approval

Get pre-approved before house hunting.

Frequently Asked Questions

How much house?

2-2.5× gross income. $80K → $160K-$200K.

28/36 rule?

Housing ≤28%. Total debt ≤36% of gross.

Down payment?

20% avoids PMI, better rates. 5-10% works with FHA.