How Much House Can I Afford on a $160,000 Salary?
With a $160,000 annual salary, here's how much home you can afford using the 28/36 rule, and what your monthly payment would look like.
$577,000
Max Home (20% down)
$490,000
Max Home (10% down)
$3,733
Max Monthly PITI (28%)
$4,800
Max Total Debt (36%)
$3,735.04
? Monthly payment PITI with taxes & insurance included
$1,867.52
? Bi-weekly payment PITI if paid every other week
March 2056
December 2052
$588,745.36
$469,514.12
$577
$240.42
| Payment | Interest | Principal | Balance |
|---|
| April 2026 | $2,500 | $417 | $461,183 |
| May 2026 | $2,498 | $420 | $460,763 |
| June 2026 | $2,496 | $422 | $460,341 |
| July 2026 | $2,494 | $424 | $459,917 |
| August 2026 | $2,491 | $426 | $459,491 |
| September 2026 | $2,489 | $429 | $459,062 |
| October 2026 | $2,487 | $431 | $458,631 |
| November 2026 | $2,484 | $433 | $458,198 |
| December 2026 | $2,482 | $436 | $457,762 |
| 2026 | $24,900 | $4,276 | $457,324 |
| January 2027 | $2,480 | $438 | $457,324 |
| February 2027 | $2,477 | $440 | $456,883 |
| March 2027 | $2,475 | $443 | $456,441 |
| April 2027 | $2,472 | $445 | $455,995 |
| May 2027 | $2,470 | $448 | $455,548 |
| June 2027 | $2,468 | $450 | $455,098 |
| July 2027 | $2,465 | $453 | $454,645 |
| August 2027 | $2,463 | $455 | $454,190 |
| September 2027 | $2,460 | $457 | $453,733 |
| October 2027 | $2,458 | $460 | $453,273 |
| November 2027 | $2,455 | $462 | $452,810 |
| December 2027 | $2,453 | $465 | $452,345 |
| 2027 | $29,566 | $5,446 | $451,878 |
| January 2028 | $2,450 | $467 | $451,878 |
| February 2028 | $2,448 | $470 | $451,408 |
| March 2028 | $2,445 | $472 | $450,936 |
| April 2028 | $2,443 | $475 | $450,461 |
| May 2028 | $2,440 | $478 | $449,983 |
| June 2028 | $2,437 | $480 | $449,503 |
| July 2028 | $2,435 | $483 | $449,020 |
| August 2028 | $2,432 | $485 | $448,534 |
| September 2028 | $2,430 | $488 | $448,046 |
| October 2028 | $2,427 | $491 | $447,556 |
| November 2028 | $2,424 | $493 | $447,062 |
| December 2028 | $2,422 | $496 | $446,566 |
| 2028 | $29,201 | $5,811 | $446,068 |
| January 2029 | $2,419 | $499 | $446,068 |
| February 2029 | $2,416 | $501 | $445,566 |
| March 2029 | $2,413 | $504 | $445,062 |
| April 2029 | $2,411 | $507 | $444,555 |
| May 2029 | $2,408 | $510 | $444,045 |
| June 2029 | $2,405 | $512 | $443,533 |
| July 2029 | $2,402 | $515 | $443,018 |
| August 2029 | $2,400 | $518 | $442,500 |
| September 2029 | $2,397 | $521 | $441,979 |
| October 2029 | $2,394 | $524 | $441,456 |
| November 2029 | $2,391 | $526 | $440,929 |
| December 2029 | $2,388 | $529 | $440,400 |
| 2029 | $28,812 | $6,200 | $439,868 |
| January 2030 | $2,386 | $532 | $439,868 |
| February 2030 | $2,383 | $535 | $439,333 |
| March 2030 | $2,380 | $538 | $438,795 |
| April 2030 | $2,377 | $541 | $438,254 |
| May 2030 | $2,374 | $544 | $437,710 |
| June 2030 | $2,371 | $547 | $437,164 |
| July 2030 | $2,368 | $550 | $436,614 |
| August 2030 | $2,365 | $553 | $436,061 |
| September 2030 | $2,362 | $556 | $435,506 |
| October 2030 | $2,359 | $559 | $434,947 |
| November 2030 | $2,356 | $562 | $434,386 |
| December 2030 | $2,353 | $565 | $433,821 |
| 2030 | $28,397 | $6,615 | $433,253 |
| January 2031 | $2,350 | $568 | $433,253 |
| February 2031 | $2,347 | $571 | $432,682 |
| March 2031 | $2,344 | $574 | $432,108 |
| April 2031 | $2,341 | $577 | $431,531 |
| May 2031 | $2,337 | $580 | $430,951 |
| June 2031 | $2,334 | $583 | $430,368 |
| July 2031 | $2,331 | $586 | $429,781 |
| August 2031 | $2,328 | $590 | $429,192 |
| September 2031 | $2,325 | $593 | $428,599 |
| October 2031 | $2,322 | $596 | $428,003 |
| November 2031 | $2,318 | $599 | $427,403 |
| December 2031 | $2,315 | $603 | $426,801 |
| 2031 | $27,954 | $7,058 | $426,195 |
| January 2032 | $2,312 | $606 | $426,195 |
| February 2032 | $2,309 | $609 | $425,586 |
| March 2032 | $2,305 | $612 | $424,974 |
| April 2032 | $2,302 | $616 | $424,358 |
| May 2032 | $2,299 | $619 | $423,739 |
| June 2032 | $2,295 | $622 | $423,117 |
| July 2032 | $2,292 | $626 | $422,491 |
| August 2032 | $2,288 | $629 | $421,862 |
| September 2032 | $2,285 | $633 | $421,229 |
| October 2032 | $2,282 | $636 | $420,593 |
| November 2032 | $2,278 | $639 | $419,954 |
| December 2032 | $2,275 | $643 | $419,311 |
| 2032 | $27,481 | $7,531 | $418,665 |
| January 2033 | $2,271 | $646 | $418,665 |
| February 2033 | $2,268 | $650 | $418,015 |
| March 2033 | $2,264 | $653 | $417,361 |
| April 2033 | $2,261 | $657 | $416,704 |
| May 2033 | $2,257 | $660 | $416,044 |
| June 2033 | $2,254 | $664 | $415,380 |
| July 2033 | $2,250 | $668 | $414,712 |
| August 2033 | $2,246 | $671 | $414,041 |
| September 2033 | $2,243 | $675 | $413,366 |
| October 2033 | $2,239 | $679 | $412,688 |
| November 2033 | $2,235 | $682 | $412,005 |
| December 2033 | $2,232 | $686 | $411,319 |
| 2033 | $26,977 | $8,035 | $410,630 |
| January 2034 | $2,228 | $690 | $410,630 |
| February 2034 | $2,224 | $693 | $409,936 |
| March 2034 | $2,220 | $697 | $409,239 |
| April 2034 | $2,217 | $701 | $408,538 |
| May 2034 | $2,213 | $705 | $407,834 |
| June 2034 | $2,209 | $709 | $407,125 |
| July 2034 | $2,205 | $712 | $406,413 |
| August 2034 | $2,201 | $716 | $405,696 |
| September 2034 | $2,198 | $720 | $404,976 |
| October 2034 | $2,194 | $724 | $404,252 |
| November 2034 | $2,190 | $728 | $403,524 |
| December 2034 | $2,186 | $732 | $402,793 |
| 2034 | $26,439 | $8,573 | $402,057 |
| January 2035 | $2,182 | $736 | $402,057 |
| February 2035 | $2,178 | $740 | $401,317 |
| March 2035 | $2,174 | $744 | $400,573 |
| April 2035 | $2,170 | $748 | $399,825 |
| May 2035 | $2,166 | $752 | $399,073 |
| June 2035 | $2,162 | $756 | $398,317 |
| July 2035 | $2,158 | $760 | $397,557 |
| August 2035 | $2,153 | $764 | $396,793 |
| September 2035 | $2,149 | $768 | $396,025 |
| October 2035 | $2,145 | $772 | $395,252 |
| November 2035 | $2,141 | $777 | $394,476 |
| December 2035 | $2,137 | $781 | $393,695 |
| 2035 | $25,864 | $9,147 | $392,910 |
| January 2036 | $2,133 | $785 | $392,910 |
| February 2036 | $2,128 | $789 | $392,120 |
| March 2036 | $2,124 | $794 | $391,327 |
| April 2036 | $2,120 | $798 | $390,529 |
| May 2036 | $2,115 | $802 | $389,726 |
| June 2036 | $2,111 | $807 | $388,920 |
| July 2036 | $2,107 | $811 | $388,109 |
| August 2036 | $2,102 | $815 | $387,293 |
| September 2036 | $2,098 | $820 | $386,474 |
| October 2036 | $2,093 | $824 | $385,649 |
| November 2036 | $2,089 | $829 | $384,821 |
| December 2036 | $2,084 | $833 | $383,988 |
| 2036 | $25,252 | $9,760 | $383,150 |
| January 2037 | $2,080 | $838 | $383,150 |
| February 2037 | $2,075 | $842 | $382,308 |
| March 2037 | $2,071 | $847 | $381,461 |
| April 2037 | $2,066 | $851 | $380,609 |
| May 2037 | $2,062 | $856 | $379,753 |
| June 2037 | $2,057 | $861 | $378,893 |
| July 2037 | $2,052 | $865 | $378,028 |
| August 2037 | $2,048 | $870 | $377,158 |
| September 2037 | $2,043 | $875 | $376,283 |
| October 2037 | $2,038 | $879 | $375,403 |
| November 2037 | $2,033 | $884 | $374,519 |
| December 2037 | $2,029 | $889 | $373,630 |
| 2037 | $24,598 | $10,413 | $372,736 |
| January 2038 | $2,024 | $894 | $372,736 |
| February 2038 | $2,019 | $899 | $371,838 |
| March 2038 | $2,014 | $904 | $370,934 |
| April 2038 | $2,009 | $908 | $370,026 |
| May 2038 | $2,004 | $913 | $369,113 |
| June 2038 | $1,999 | $918 | $368,194 |
| July 2038 | $1,994 | $923 | $367,271 |
| August 2038 | $1,989 | $928 | $366,343 |
| September 2038 | $1,984 | $933 | $365,410 |
| October 2038 | $1,979 | $938 | $364,471 |
| November 2038 | $1,974 | $943 | $363,528 |
| December 2038 | $1,969 | $949 | $362,579 |
| 2038 | $23,901 | $11,111 | $361,626 |
| January 2039 | $1,964 | $954 | $361,626 |
| February 2039 | $1,959 | $959 | $360,667 |
| March 2039 | $1,954 | $964 | $359,703 |
| April 2039 | $1,948 | $969 | $358,734 |
| May 2039 | $1,943 | $974 | $357,759 |
| June 2039 | $1,938 | $980 | $356,779 |
| July 2039 | $1,933 | $985 | $355,794 |
| August 2039 | $1,927 | $990 | $354,804 |
| September 2039 | $1,922 | $996 | $353,808 |
| October 2039 | $1,916 | $1,001 | $352,807 |
| November 2039 | $1,911 | $1,007 | $351,800 |
| December 2039 | $1,906 | $1,012 | $350,788 |
| 2039 | $23,157 | $11,855 | $349,771 |
| January 2040 | $1,900 | $1,018 | $349,771 |
| February 2040 | $1,895 | $1,023 | $348,748 |
| March 2040 | $1,889 | $1,029 | $347,719 |
| April 2040 | $1,883 | $1,034 | $346,685 |
| May 2040 | $1,878 | $1,040 | $345,645 |
| June 2040 | $1,872 | $1,045 | $344,600 |
| July 2040 | $1,867 | $1,051 | $343,549 |
| August 2040 | $1,861 | $1,057 | $342,492 |
| September 2040 | $1,855 | $1,062 | $341,430 |
| October 2040 | $1,849 | $1,068 | $340,361 |
| November 2040 | $1,844 | $1,074 | $339,287 |
| December 2040 | $1,838 | $1,080 | $338,208 |
| 2040 | $22,363 | $12,649 | $337,122 |
| January 2041 | $1,832 | $1,086 | $337,122 |
| February 2041 | $1,826 | $1,092 | $336,030 |
| March 2041 | $1,820 | $1,097 | $334,933 |
| April 2041 | $1,814 | $1,103 | $333,830 |
| May 2041 | $1,808 | $1,109 | $332,720 |
| June 2041 | $1,802 | $1,115 | $331,605 |
| July 2041 | $1,796 | $1,121 | $330,483 |
| August 2041 | $1,790 | $1,128 | $329,356 |
| September 2041 | $1,784 | $1,134 | $328,222 |
| October 2041 | $1,778 | $1,140 | $327,083 |
| November 2041 | $1,772 | $1,146 | $325,937 |
| December 2041 | $1,765 | $1,152 | $324,784 |
| 2041 | $21,516 | $13,496 | $323,626 |
| January 2042 | $1,759 | $1,158 | $323,626 |
| February 2042 | $1,753 | $1,165 | $322,461 |
| March 2042 | $1,747 | $1,171 | $321,290 |
| April 2042 | $1,740 | $1,177 | $320,113 |
| May 2042 | $1,734 | $1,184 | $318,929 |
| June 2042 | $1,728 | $1,190 | $317,739 |
| July 2042 | $1,721 | $1,197 | $316,543 |
| August 2042 | $1,715 | $1,203 | $315,340 |
| September 2042 | $1,708 | $1,210 | $314,130 |
| October 2042 | $1,702 | $1,216 | $312,914 |
| November 2042 | $1,695 | $1,223 | $311,692 |
| December 2042 | $1,688 | $1,229 | $310,462 |
| 2042 | $20,612 | $14,400 | $309,226 |
| January 2043 | $1,682 | $1,236 | $309,226 |
| February 2043 | $1,675 | $1,243 | $307,984 |
| March 2043 | $1,668 | $1,249 | $306,734 |
| April 2043 | $1,661 | $1,256 | $305,478 |
| May 2043 | $1,655 | $1,263 | $304,215 |
| June 2043 | $1,648 | $1,270 | $302,945 |
| July 2043 | $1,641 | $1,277 | $301,669 |
| August 2043 | $1,634 | $1,284 | $300,385 |
| September 2043 | $1,627 | $1,291 | $299,095 |
| October 2043 | $1,620 | $1,298 | $297,797 |
| November 2043 | $1,613 | $1,305 | $296,492 |
| December 2043 | $1,606 | $1,312 | $295,181 |
| 2043 | $19,647 | $15,364 | $293,862 |
| January 2044 | $1,599 | $1,319 | $293,862 |
| February 2044 | $1,592 | $1,326 | $292,536 |
| March 2044 | $1,585 | $1,333 | $291,203 |
| April 2044 | $1,577 | $1,340 | $289,863 |
| May 2044 | $1,570 | $1,348 | $288,515 |
| June 2044 | $1,563 | $1,355 | $287,161 |
| July 2044 | $1,555 | $1,362 | $285,798 |
| August 2044 | $1,548 | $1,370 | $284,429 |
| September 2044 | $1,541 | $1,377 | $283,052 |
| October 2044 | $1,533 | $1,384 | $281,667 |
| November 2044 | $1,526 | $1,392 | $280,275 |
| December 2044 | $1,518 | $1,399 | $278,876 |
| 2044 | $18,618 | $16,393 | $277,469 |
| January 2045 | $1,511 | $1,407 | $277,469 |
| February 2045 | $1,503 | $1,415 | $276,054 |
| March 2045 | $1,495 | $1,422 | $274,632 |
| April 2045 | $1,488 | $1,430 | $273,202 |
| May 2045 | $1,480 | $1,438 | $271,764 |
| June 2045 | $1,472 | $1,446 | $270,319 |
| July 2045 | $1,464 | $1,453 | $268,865 |
| August 2045 | $1,456 | $1,461 | $267,404 |
| September 2045 | $1,448 | $1,469 | $265,935 |
| October 2045 | $1,440 | $1,477 | $264,458 |
| November 2045 | $1,432 | $1,485 | $262,972 |
| December 2045 | $1,424 | $1,493 | $261,479 |
| 2045 | $17,520 | $17,491 | $259,978 |
| January 2046 | $1,416 | $1,501 | $259,978 |
| February 2046 | $1,408 | $1,509 | $258,469 |
| March 2046 | $1,400 | $1,518 | $256,951 |
| April 2046 | $1,392 | $1,526 | $255,425 |
| May 2046 | $1,384 | $1,534 | $253,891 |
| June 2046 | $1,375 | $1,542 | $252,349 |
| July 2046 | $1,367 | $1,551 | $250,798 |
| August 2046 | $1,358 | $1,559 | $249,239 |
| September 2046 | $1,350 | $1,568 | $247,671 |
| October 2046 | $1,342 | $1,576 | $246,095 |
| November 2046 | $1,333 | $1,585 | $244,511 |
| December 2046 | $1,324 | $1,593 | $242,917 |
| 2046 | $16,349 | $18,662 | $241,316 |
| January 2047 | $1,316 | $1,602 | $241,316 |
| February 2047 | $1,307 | $1,611 | $239,705 |
| March 2047 | $1,298 | $1,619 | $238,086 |
| April 2047 | $1,290 | $1,628 | $236,458 |
| May 2047 | $1,281 | $1,637 | $234,821 |
| June 2047 | $1,272 | $1,646 | $233,175 |
| July 2047 | $1,263 | $1,655 | $231,521 |
| August 2047 | $1,254 | $1,664 | $229,857 |
| September 2047 | $1,245 | $1,673 | $228,185 |
| October 2047 | $1,236 | $1,682 | $226,503 |
| November 2047 | $1,227 | $1,691 | $224,812 |
| December 2047 | $1,218 | $1,700 | $223,112 |
| 2047 | $15,099 | $19,912 | $221,403 |
| January 2048 | $1,209 | $1,709 | $221,403 |
| February 2048 | $1,199 | $1,718 | $219,685 |
| March 2048 | $1,190 | $1,728 | $217,957 |
| April 2048 | $1,181 | $1,737 | $216,220 |
| May 2048 | $1,171 | $1,746 | $214,474 |
| June 2048 | $1,162 | $1,756 | $212,718 |
| July 2048 | $1,152 | $1,765 | $210,952 |
| August 2048 | $1,143 | $1,775 | $209,177 |
| September 2048 | $1,133 | $1,785 | $207,393 |
| October 2048 | $1,123 | $1,794 | $205,599 |
| November 2048 | $1,114 | $1,804 | $203,795 |
| December 2048 | $1,104 | $1,814 | $201,981 |
| 2048 | $13,766 | $21,246 | $200,157 |
| January 2049 | $1,094 | $1,824 | $200,157 |
| February 2049 | $1,084 | $1,833 | $198,324 |
| March 2049 | $1,074 | $1,843 | $196,481 |
| April 2049 | $1,064 | $1,853 | $194,627 |
| May 2049 | $1,054 | $1,863 | $192,764 |
| June 2049 | $1,044 | $1,873 | $190,890 |
| July 2049 | $1,034 | $1,884 | $189,007 |
| August 2049 | $1,024 | $1,894 | $187,113 |
| September 2049 | $1,014 | $1,904 | $185,209 |
| October 2049 | $1,003 | $1,914 | $183,294 |
| November 2049 | $993 | $1,925 | $181,370 |
| December 2049 | $982 | $1,935 | $179,434 |
| 2049 | $12,343 | $22,669 | $177,489 |
| January 2050 | $972 | $1,946 | $177,489 |
| February 2050 | $961 | $1,956 | $175,532 |
| March 2050 | $951 | $1,967 | $173,566 |
| April 2050 | $940 | $1,977 | $171,588 |
| May 2050 | $929 | $1,988 | $169,600 |
| June 2050 | $919 | $1,999 | $167,601 |
| July 2050 | $908 | $2,010 | $165,591 |
| August 2050 | $897 | $2,021 | $163,571 |
| September 2050 | $886 | $2,032 | $161,539 |
| October 2050 | $875 | $2,043 | $159,496 |
| November 2050 | $864 | $2,054 | $157,443 |
| December 2050 | $853 | $2,065 | $155,378 |
| 2050 | $10,825 | $24,187 | $153,302 |
| January 2051 | $842 | $2,076 | $153,302 |
| February 2051 | $830 | $2,087 | $151,215 |
| March 2051 | $819 | $2,099 | $149,116 |
| April 2051 | $808 | $2,110 | $147,006 |
| May 2051 | $796 | $2,121 | $144,885 |
| June 2051 | $785 | $2,133 | $142,752 |
| July 2051 | $773 | $2,144 | $140,608 |
| August 2051 | $762 | $2,156 | $138,452 |
| September 2051 | $750 | $2,168 | $136,284 |
| October 2051 | $738 | $2,179 | $134,104 |
| November 2051 | $726 | $2,191 | $131,913 |
| December 2051 | $715 | $2,203 | $129,710 |
| 2051 | $9,205 | $25,807 | $127,495 |
| January 2052 | $703 | $2,215 | $127,495 |
| February 2052 | $691 | $2,227 | $125,268 |
| March 2052 | $679 | $2,239 | $123,029 |
| April 2052 | $666 | $2,251 | $120,778 |
| May 2052 | $654 | $2,263 | $118,514 |
| June 2052 | $642 | $2,276 | $116,239 |
| July 2052 | $630 | $2,288 | $113,951 |
| August 2052 | $617 | $2,300 | $111,650 |
| September 2052 | $605 | $2,313 | $109,337 |
| October 2052 | $592 | $2,325 | $107,012 |
| November 2052 | $580 | $2,338 | $104,674 |
| December 2052 | $567 | $2,351 | $102,323 |
| 2052 | $7,476 | $27,535 | $99,960 |
| January 2053 | $554 | $2,363 | $99,960 |
| February 2053 | $541 | $2,376 | $97,584 |
| March 2053 | $529 | $2,389 | $95,195 |
| April 2053 | $516 | $2,402 | $92,793 |
| May 2053 | $503 | $2,415 | $90,378 |
| June 2053 | $490 | $2,428 | $87,950 |
| July 2053 | $476 | $2,441 | $85,509 |
| August 2053 | $463 | $2,454 | $83,054 |
| September 2053 | $450 | $2,468 | $80,586 |
| October 2053 | $437 | $2,481 | $78,105 |
| November 2053 | $423 | $2,495 | $75,611 |
| December 2053 | $410 | $2,508 | $73,103 |
| 2053 | $5,632 | $29,379 | $70,581 |
| January 2054 | $396 | $2,522 | $70,581 |
| February 2054 | $382 | $2,535 | $68,046 |
| March 2054 | $369 | $2,549 | $65,497 |
| April 2054 | $355 | $2,563 | $62,934 |
| May 2054 | $341 | $2,577 | $60,357 |
| June 2054 | $327 | $2,591 | $57,766 |
| July 2054 | $313 | $2,605 | $55,162 |
| August 2054 | $299 | $2,619 | $52,543 |
| September 2054 | $285 | $2,633 | $49,910 |
| October 2054 | $270 | $2,647 | $47,262 |
| November 2054 | $256 | $2,662 | $44,601 |
| December 2054 | $242 | $2,676 | $41,925 |
| 2054 | $3,665 | $31,347 | $39,234 |
| January 2055 | $227 | $2,691 | $39,234 |
| February 2055 | $213 | $2,705 | $36,529 |
| March 2055 | $198 | $2,720 | $33,809 |
| April 2055 | $183 | $2,734 | $31,075 |
| May 2055 | $168 | $2,749 | $28,326 |
| June 2055 | $153 | $2,764 | $25,561 |
| July 2055 | $138 | $2,779 | $22,782 |
| August 2055 | $123 | $2,794 | $19,988 |
| September 2055 | $108 | $2,809 | $17,179 |
| October 2055 | $93 | $2,825 | $14,354 |
| November 2055 | $78 | $2,840 | $11,514 |
| December 2055 | $62 | $2,855 | $8,659 |
| 2055 | $1,565 | $33,446 | $5,788 |
| January 2056 | $47 | $2,871 | $5,788 |
| February 2056 | $31 | $2,886 | $2,902 |
| March 2056 | $16 | $2,902 | $0 |
| 2056 | $47 | $5,788 | $0 |
Home Affordability on $160,000/Year
Using the 28/36 rule — your PITI payment should stay under 28% of gross income, total debt under 36%:
| Monthly | Annual | |
|---|---|---|
| Gross income | $13,333 | $160,000 |
| Max PITI (28%) | $3,733 | $44,800 |
| Max total debt (36%) | $4,800 | $57,600 |
How Much Home Can You Buy?
At a 6.5% interest rate with a 30-year loan:
| Down Payment | Max Home Price | Monthly PITI | Notes |
|---|---|---|---|
| 20% | $577,000 | ~$3,735 | No PMI |
| 10% | ~$490,000 | ~$3,733 | Includes PMI |
| 5% | ~$462,000 | ~$3,733 | Includes PMI |
A larger down payment lets you afford a more expensive home because there’s no PMI eating into your monthly budget.
Impact of Existing Debt
If you have other monthly debt payments, your buying power drops:
| Monthly Debt | Available for PITI | Max Home (20% down) |
|---|---|---|
| $0 | $3,733 | $577,000 |
| $300/mo | $4,500 | ~$541,000 |
| $500/mo | $4,300 | ~$517,000 |
| $800/mo | $4,000 | ~$481,000 |
Every $300/month in existing debt reduces your buying power by roughly $36,000.
How Interest Rate Affects Affordability
On a $160,000 salary with 20% down:
| Rate | Max Home Price | Monthly PITI |
|---|---|---|
| 5.5% | ~$646,000 | ~$3,733 |
| 6.0% | ~$612,000 | ~$3,733 |
| 6.5% | $577,000 | ~$3,735 |
| 7.0% | ~$542,000 | ~$3,733 |
| 7.5% | ~$514,000 | ~$3,733 |
A 1% rate drop adds roughly $69,000 to your buying power.
Tips to Maximize What You Can Afford
- Pay off debt first — every $300/month in debt you eliminate adds ~$36,000 in buying power
- Improve your credit score — better scores get lower rates, which means more home for the same payment
- Compare lenders — rates vary 0.25-0.5% between lenders, which can mean $35,000+ in buying power
- Consider bi-weekly payments — won’t help you qualify, but saves thousands in interest after you buy
- Check your state — property taxes and insurance vary dramatically. See your state’s costs
Calculate Your Exact Affordability
The calculator above is pre-filled for a $160,000 salary. Adjust the home value, down payment, and local taxes to see your exact monthly PITI payment.