Maximum Comfortable Home Price (28% Rule)
$245,000
Based on your income, debts, and down payment
Housing DTI: 28% — Comfortable
⚠ High debt-to-income. Consider paying down debts before buying, or target a lower price.
Max Monthly Payment
$1,867
Affordability FAQ
What is the 28/36 rule?
Spend no more than 28% of gross monthly income on housing (mortgage+taxes+insurance), and no more than 36% on all debt combined. This calculator uses the 28% housing limit. If your other debts are high, your actual comfortable home price will be lower than the 28% ceiling alone suggests.
What is the difference between what I can afford and what I qualify for?
Banks approve up to 43–50% DTI. Qualifying for a payment and comfortably making it every month are different things. This calculator shows what is financially sustainable, not just what is technically approvable.
Should I pay off debt before buying a house?
Usually yes. Every $200/month in eliminated debt can increase your affordable home price by $30,000–$40,000. Paying off debt also improves your credit score and DTI ratio, potentially getting you a better mortgage rate. Use the debt slider above to see exactly how existing debts reduce your max price.
How does down payment affect affordability?
More down payment reduces your loan amount (lower P&I payment) and if you reach 20%+, you eliminate PMI saving $100–$300/month. This calculator automatically removes PMI when your down payment covers 20% of the max home price. However, avoid draining your emergency fund to put more down.