How much house can I afford?
An accurate mortgage affordability calculator by income — enter your salary, debts, and down payment and see the max home price you qualify for, with real property tax, homeowners insurance, PMI, and DTI limits factored in for your state.
Estimates use Texas's avg property tax (1.74%) and insurance ($3,900/yr). Actual approval depends on credit, documented income, and lender overlays. Not a loan commitment.
Mortgage calculator by income and DTI
Lenders don't approve you on "3× your salary" — they approve you on your mortgage-to-income ratio (DTI). Move the sliders above to model the exact DTI ceiling your loan program uses: 43% for conventional, up to 56.9% for FHA with compensating factors, and residual-income-based for VA. The result is what you'd realistically pass underwriting for, not a marketing number.
Common questions
How much house can I afford on my income?
A common rule of thumb is 3–5× your annual income, but the accurate answer comes from your DTI (debt-to-income) ceiling. Most conventional loans cap DTI at 43–45%, so your maximum monthly PITI is roughly (annual income × 0.43 ÷ 12) − existing monthly debts. Plug your numbers into the mortgage-by-income calculator above to see the exact figure for your state.
Is this an accurate mortgage affordability calculator?
Yes — the calculation mirrors what lenders use at pre-approval. It factors your DTI ceiling, real state-level property tax rates, average homeowners insurance, mortgage insurance (PMI/MIP for FHA/USDA, none for VA), and the interest-rate and term you pick. It does not pull your credit, so actual approval depends on your score, documented income, and lender overlays.
What is the mortgage-to-income ratio lenders use?
Two ratios: front-end (housing PITI ÷ gross monthly income) and back-end (total monthly debts ÷ gross monthly income). Conventional loans target ≤28% front-end and ≤43–45% back-end. FHA allows up to 56.9% back-end with compensating factors. VA uses residual-income rules alongside DTI. The DTI slider above lets you model each cap.
Does the calculator cover Texas, California, and other high-tax states?
All 50 states plus DC are supported with their real effective property-tax rates and average homeowners-insurance costs baked in — Texas's 1.74% tax rate and Florida's ~$5,500/yr insurance materially reduce buying power compared to lower-cost states, and the calculator shows exactly how much.
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Once you have your affordable price, double-check your debt-to-income ratio against the loan program's cap. Veterans should compare $0-down VA against 3.5%-down FHA in the VA vs FHA calculator (or run entitlement math in the VA entitlement calculator). Still deciding whether to buy at all? Rent vs Buy shows break-even and 10-year wealth. Already own? Refinance calculator. See all mortgage calculators. Plan your monthly payment in the mortgage payment calculator and your cash to close in the closing costs calculator.