How Much House Can I Afford on a $180,000 Salary?
With a $180,000 annual salary, here's how much home you can afford using the 28/36 rule, and what your monthly payment would look like.
$649,000
Max Home (20% down)
$552,000
Max Home (10% down)
$4,200
Max Monthly PITI (28%)
$5,400
Max Total Debt (36%)
$4,201.11
? Monthly payment PITI with taxes & insurance included
$2,100.56
? Bi-weekly payment PITI if paid every other week
March 2056
December 2052
$662,210.98
$528,101.67
$649
$270.42
| Payment | Interest | Principal | Balance |
|---|
| April 2026 | $2,812 | $469 | $518,731 |
| May 2026 | $2,810 | $472 | $518,259 |
| June 2026 | $2,807 | $474 | $517,784 |
| July 2026 | $2,805 | $477 | $517,307 |
| August 2026 | $2,802 | $480 | $516,828 |
| September 2026 | $2,799 | $482 | $516,345 |
| October 2026 | $2,797 | $485 | $515,861 |
| November 2026 | $2,794 | $487 | $515,373 |
| December 2026 | $2,792 | $490 | $514,883 |
| 2026 | $28,007 | $4,810 | $514,390 |
| January 2027 | $2,789 | $493 | $514,390 |
| February 2027 | $2,786 | $495 | $513,895 |
| March 2027 | $2,784 | $498 | $513,397 |
| April 2027 | $2,781 | $501 | $512,896 |
| May 2027 | $2,778 | $504 | $512,392 |
| June 2027 | $2,775 | $506 | $511,886 |
| July 2027 | $2,773 | $509 | $511,377 |
| August 2027 | $2,770 | $512 | $510,866 |
| September 2027 | $2,767 | $515 | $510,351 |
| October 2027 | $2,764 | $517 | $509,834 |
| November 2027 | $2,762 | $520 | $509,314 |
| December 2027 | $2,759 | $523 | $508,791 |
| 2027 | $33,255 | $6,125 | $508,265 |
| January 2028 | $2,756 | $526 | $508,265 |
| February 2028 | $2,753 | $529 | $507,736 |
| March 2028 | $2,750 | $531 | $507,205 |
| April 2028 | $2,747 | $534 | $506,671 |
| May 2028 | $2,744 | $537 | $506,133 |
| June 2028 | $2,742 | $540 | $505,593 |
| July 2028 | $2,739 | $543 | $505,050 |
| August 2028 | $2,736 | $546 | $504,504 |
| September 2028 | $2,733 | $549 | $503,955 |
| October 2028 | $2,730 | $552 | $503,403 |
| November 2028 | $2,727 | $555 | $502,848 |
| December 2028 | $2,724 | $558 | $502,290 |
| 2028 | $32,845 | $6,536 | $501,729 |
| January 2029 | $2,721 | $561 | $501,729 |
| February 2029 | $2,718 | $564 | $501,165 |
| March 2029 | $2,715 | $567 | $500,598 |
| April 2029 | $2,712 | $570 | $500,028 |
| May 2029 | $2,708 | $573 | $499,455 |
| June 2029 | $2,705 | $576 | $498,879 |
| July 2029 | $2,702 | $579 | $498,299 |
| August 2029 | $2,699 | $583 | $497,717 |
| September 2029 | $2,696 | $586 | $497,131 |
| October 2029 | $2,693 | $589 | $496,542 |
| November 2029 | $2,690 | $592 | $495,950 |
| December 2029 | $2,686 | $595 | $495,355 |
| 2029 | $32,407 | $6,973 | $494,756 |
| January 2030 | $2,683 | $599 | $494,756 |
| February 2030 | $2,680 | $602 | $494,154 |
| March 2030 | $2,677 | $605 | $493,549 |
| April 2030 | $2,673 | $608 | $492,941 |
| May 2030 | $2,670 | $612 | $492,329 |
| June 2030 | $2,667 | $615 | $491,714 |
| July 2030 | $2,663 | $618 | $491,096 |
| August 2030 | $2,660 | $622 | $490,475 |
| September 2030 | $2,657 | $625 | $489,850 |
| October 2030 | $2,653 | $628 | $489,221 |
| November 2030 | $2,650 | $632 | $488,590 |
| December 2030 | $2,647 | $635 | $487,954 |
| 2030 | $31,940 | $7,440 | $487,316 |
| January 2031 | $2,643 | $639 | $487,316 |
| February 2031 | $2,640 | $642 | $486,674 |
| March 2031 | $2,636 | $646 | $486,028 |
| April 2031 | $2,633 | $649 | $485,379 |
| May 2031 | $2,629 | $653 | $484,727 |
| June 2031 | $2,626 | $656 | $484,070 |
| July 2031 | $2,622 | $660 | $483,411 |
| August 2031 | $2,618 | $663 | $482,748 |
| September 2031 | $2,615 | $667 | $482,081 |
| October 2031 | $2,611 | $670 | $481,410 |
| November 2031 | $2,608 | $674 | $480,736 |
| December 2031 | $2,604 | $678 | $480,059 |
| 2031 | $31,442 | $7,939 | $479,377 |
| January 2032 | $2,600 | $681 | $479,377 |
| February 2032 | $2,597 | $685 | $478,692 |
| March 2032 | $2,593 | $689 | $478,003 |
| April 2032 | $2,589 | $693 | $477,311 |
| May 2032 | $2,585 | $696 | $476,615 |
| June 2032 | $2,582 | $700 | $475,915 |
| July 2032 | $2,578 | $704 | $475,211 |
| August 2032 | $2,574 | $708 | $474,503 |
| September 2032 | $2,570 | $711 | $473,792 |
| October 2032 | $2,566 | $715 | $473,076 |
| November 2032 | $2,562 | $719 | $472,357 |
| December 2032 | $2,559 | $723 | $471,634 |
| 2032 | $30,910 | $8,470 | $470,907 |
| January 2033 | $2,555 | $727 | $470,907 |
| February 2033 | $2,551 | $731 | $470,176 |
| March 2033 | $2,547 | $735 | $469,441 |
| April 2033 | $2,543 | $739 | $468,702 |
| May 2033 | $2,539 | $743 | $467,959 |
| June 2033 | $2,535 | $747 | $467,212 |
| July 2033 | $2,531 | $751 | $466,461 |
| August 2033 | $2,527 | $755 | $465,706 |
| September 2033 | $2,523 | $759 | $464,947 |
| October 2033 | $2,518 | $763 | $464,184 |
| November 2033 | $2,514 | $767 | $463,417 |
| December 2033 | $2,510 | $772 | $462,645 |
| 2033 | $30,343 | $9,038 | $461,870 |
| January 2034 | $2,506 | $776 | $461,870 |
| February 2034 | $2,502 | $780 | $461,090 |
| March 2034 | $2,498 | $784 | $460,305 |
| April 2034 | $2,493 | $788 | $459,517 |
| May 2034 | $2,489 | $793 | $458,724 |
| June 2034 | $2,485 | $797 | $457,928 |
| July 2034 | $2,480 | $801 | $457,126 |
| August 2034 | $2,476 | $806 | $456,321 |
| September 2034 | $2,472 | $810 | $455,511 |
| October 2034 | $2,467 | $814 | $454,696 |
| November 2034 | $2,463 | $819 | $453,878 |
| December 2034 | $2,459 | $823 | $453,054 |
| 2034 | $29,738 | $9,643 | $452,227 |
| January 2035 | $2,454 | $828 | $452,227 |
| February 2035 | $2,450 | $832 | $451,395 |
| March 2035 | $2,445 | $837 | $450,558 |
| April 2035 | $2,441 | $841 | $449,717 |
| May 2035 | $2,436 | $846 | $448,871 |
| June 2035 | $2,431 | $850 | $448,021 |
| July 2035 | $2,427 | $855 | $447,166 |
| August 2035 | $2,422 | $860 | $446,306 |
| September 2035 | $2,417 | $864 | $445,442 |
| October 2035 | $2,413 | $869 | $444,573 |
| November 2035 | $2,408 | $874 | $443,700 |
| December 2035 | $2,403 | $878 | $442,821 |
| 2035 | $29,092 | $10,289 | $441,938 |
| January 2036 | $2,399 | $883 | $441,938 |
| February 2036 | $2,394 | $888 | $441,050 |
| March 2036 | $2,389 | $893 | $440,158 |
| April 2036 | $2,384 | $898 | $439,260 |
| May 2036 | $2,379 | $902 | $438,358 |
| June 2036 | $2,374 | $907 | $437,451 |
| July 2036 | $2,370 | $912 | $436,538 |
| August 2036 | $2,365 | $917 | $435,621 |
| September 2036 | $2,360 | $922 | $434,699 |
| October 2036 | $2,355 | $927 | $433,772 |
| November 2036 | $2,350 | $932 | $432,840 |
| December 2036 | $2,345 | $937 | $431,903 |
| 2036 | $28,403 | $10,978 | $430,961 |
| January 2037 | $2,339 | $942 | $430,961 |
| February 2037 | $2,334 | $947 | $430,013 |
| March 2037 | $2,329 | $952 | $429,061 |
| April 2037 | $2,324 | $958 | $428,103 |
| May 2037 | $2,319 | $963 | $427,140 |
| June 2037 | $2,314 | $968 | $426,172 |
| July 2037 | $2,308 | $973 | $425,199 |
| August 2037 | $2,303 | $979 | $424,221 |
| September 2037 | $2,298 | $984 | $423,237 |
| October 2037 | $2,293 | $989 | $422,248 |
| November 2037 | $2,287 | $995 | $421,253 |
| December 2037 | $2,282 | $1,000 | $420,253 |
| 2037 | $27,668 | $11,713 | $419,248 |
| January 2038 | $2,276 | $1,005 | $419,248 |
| February 2038 | $2,271 | $1,011 | $418,237 |
| March 2038 | $2,265 | $1,016 | $417,221 |
| April 2038 | $2,260 | $1,022 | $416,199 |
| May 2038 | $2,254 | $1,027 | $415,172 |
| June 2038 | $2,249 | $1,033 | $414,139 |
| July 2038 | $2,243 | $1,038 | $413,100 |
| August 2038 | $2,238 | $1,044 | $412,056 |
| September 2038 | $2,232 | $1,050 | $411,007 |
| October 2038 | $2,226 | $1,055 | $409,951 |
| November 2038 | $2,221 | $1,061 | $408,890 |
| December 2038 | $2,215 | $1,067 | $407,823 |
| 2038 | $26,883 | $12,497 | $406,751 |
| January 2039 | $2,209 | $1,073 | $406,751 |
| February 2039 | $2,203 | $1,078 | $405,672 |
| March 2039 | $2,197 | $1,084 | $404,588 |
| April 2039 | $2,192 | $1,090 | $403,498 |
| May 2039 | $2,186 | $1,096 | $402,402 |
| June 2039 | $2,180 | $1,102 | $401,300 |
| July 2039 | $2,174 | $1,108 | $400,192 |
| August 2039 | $2,168 | $1,114 | $399,078 |
| September 2039 | $2,162 | $1,120 | $397,958 |
| October 2039 | $2,156 | $1,126 | $396,831 |
| November 2039 | $2,150 | $1,132 | $395,699 |
| December 2039 | $2,143 | $1,138 | $394,561 |
| 2039 | $26,046 | $13,334 | $393,416 |
| January 2040 | $2,137 | $1,144 | $393,416 |
| February 2040 | $2,131 | $1,151 | $392,266 |
| March 2040 | $2,125 | $1,157 | $391,109 |
| April 2040 | $2,119 | $1,163 | $389,946 |
| May 2040 | $2,112 | $1,169 | $388,776 |
| June 2040 | $2,106 | $1,176 | $387,600 |
| July 2040 | $2,100 | $1,182 | $386,418 |
| August 2040 | $2,093 | $1,189 | $385,229 |
| September 2040 | $2,087 | $1,195 | $384,034 |
| October 2040 | $2,080 | $1,202 | $382,833 |
| November 2040 | $2,074 | $1,208 | $381,625 |
| December 2040 | $2,067 | $1,215 | $380,410 |
| 2040 | $25,153 | $14,227 | $379,189 |
| January 2041 | $2,061 | $1,221 | $379,189 |
| February 2041 | $2,054 | $1,228 | $377,961 |
| March 2041 | $2,047 | $1,234 | $376,727 |
| April 2041 | $2,041 | $1,241 | $375,486 |
| May 2041 | $2,034 | $1,248 | $374,238 |
| June 2041 | $2,027 | $1,255 | $372,984 |
| July 2041 | $2,020 | $1,261 | $371,722 |
| August 2041 | $2,013 | $1,268 | $370,454 |
| September 2041 | $2,007 | $1,275 | $369,179 |
| October 2041 | $2,000 | $1,282 | $367,897 |
| November 2041 | $1,993 | $1,289 | $366,608 |
| December 2041 | $1,986 | $1,296 | $365,312 |
| 2041 | $24,200 | $15,180 | $364,009 |
| January 2042 | $1,979 | $1,303 | $364,009 |
| February 2042 | $1,972 | $1,310 | $362,699 |
| March 2042 | $1,965 | $1,317 | $361,382 |
| April 2042 | $1,957 | $1,324 | $360,058 |
| May 2042 | $1,950 | $1,331 | $358,727 |
| June 2042 | $1,943 | $1,339 | $357,388 |
| July 2042 | $1,936 | $1,346 | $356,042 |
| August 2042 | $1,929 | $1,353 | $354,689 |
| September 2042 | $1,921 | $1,360 | $353,329 |
| October 2042 | $1,914 | $1,368 | $351,961 |
| November 2042 | $1,906 | $1,375 | $350,585 |
| December 2042 | $1,899 | $1,383 | $349,203 |
| 2042 | $23,184 | $16,197 | $347,813 |
| January 2043 | $1,892 | $1,390 | $347,813 |
| February 2043 | $1,884 | $1,398 | $346,415 |
| March 2043 | $1,876 | $1,405 | $345,010 |
| April 2043 | $1,869 | $1,413 | $343,597 |
| May 2043 | $1,861 | $1,421 | $342,176 |
| June 2043 | $1,853 | $1,428 | $340,748 |
| July 2043 | $1,846 | $1,436 | $339,312 |
| August 2043 | $1,838 | $1,444 | $337,868 |
| September 2043 | $1,830 | $1,452 | $336,417 |
| October 2043 | $1,822 | $1,459 | $334,957 |
| November 2043 | $1,814 | $1,467 | $333,490 |
| December 2043 | $1,806 | $1,475 | $332,014 |
| 2043 | $22,099 | $17,281 | $330,531 |
| January 2044 | $1,798 | $1,483 | $330,531 |
| February 2044 | $1,790 | $1,491 | $329,040 |
| March 2044 | $1,782 | $1,499 | $327,540 |
| April 2044 | $1,774 | $1,508 | $326,033 |
| May 2044 | $1,766 | $1,516 | $324,517 |
| June 2044 | $1,758 | $1,524 | $322,993 |
| July 2044 | $1,750 | $1,532 | $321,461 |
| August 2044 | $1,741 | $1,540 | $319,921 |
| September 2044 | $1,733 | $1,549 | $318,372 |
| October 2044 | $1,725 | $1,557 | $316,815 |
| November 2044 | $1,716 | $1,566 | $315,249 |
| December 2044 | $1,708 | $1,574 | $313,675 |
| 2044 | $20,942 | $18,439 | $312,092 |
| January 2045 | $1,699 | $1,583 | $312,092 |
| February 2045 | $1,691 | $1,591 | $310,501 |
| March 2045 | $1,682 | $1,600 | $308,901 |
| April 2045 | $1,673 | $1,608 | $307,293 |
| May 2045 | $1,665 | $1,617 | $305,676 |
| June 2045 | $1,656 | $1,626 | $304,050 |
| July 2045 | $1,647 | $1,635 | $302,415 |
| August 2045 | $1,638 | $1,644 | $300,771 |
| September 2045 | $1,629 | $1,653 | $299,119 |
| October 2045 | $1,620 | $1,661 | $297,457 |
| November 2045 | $1,611 | $1,670 | $295,787 |
| December 2045 | $1,602 | $1,680 | $294,107 |
| 2045 | $19,707 | $19,674 | $292,419 |
| January 2046 | $1,593 | $1,689 | $292,419 |
| February 2046 | $1,584 | $1,698 | $290,721 |
| March 2046 | $1,575 | $1,707 | $289,014 |
| April 2046 | $1,565 | $1,716 | $287,298 |
| May 2046 | $1,556 | $1,725 | $285,572 |
| June 2046 | $1,547 | $1,735 | $283,838 |
| July 2046 | $1,537 | $1,744 | $282,093 |
| August 2046 | $1,528 | $1,754 | $280,340 |
| September 2046 | $1,519 | $1,763 | $278,576 |
| October 2046 | $1,509 | $1,773 | $276,804 |
| November 2046 | $1,499 | $1,782 | $275,021 |
| December 2046 | $1,490 | $1,792 | $273,229 |
| 2046 | $18,389 | $20,991 | $271,428 |
| January 2047 | $1,480 | $1,802 | $271,428 |
| February 2047 | $1,470 | $1,811 | $269,616 |
| March 2047 | $1,460 | $1,821 | $267,795 |
| April 2047 | $1,451 | $1,831 | $265,964 |
| May 2047 | $1,441 | $1,841 | $264,123 |
| June 2047 | $1,431 | $1,851 | $262,272 |
| July 2047 | $1,421 | $1,861 | $260,411 |
| August 2047 | $1,411 | $1,871 | $258,540 |
| September 2047 | $1,400 | $1,881 | $256,658 |
| October 2047 | $1,390 | $1,891 | $254,767 |
| November 2047 | $1,380 | $1,902 | $252,865 |
| December 2047 | $1,370 | $1,912 | $250,953 |
| 2047 | $16,983 | $22,397 | $249,031 |
| January 2048 | $1,359 | $1,922 | $249,031 |
| February 2048 | $1,349 | $1,933 | $247,098 |
| March 2048 | $1,338 | $1,943 | $245,155 |
| April 2048 | $1,328 | $1,954 | $243,201 |
| May 2048 | $1,317 | $1,964 | $241,237 |
| June 2048 | $1,307 | $1,975 | $239,262 |
| July 2048 | $1,296 | $1,986 | $237,276 |
| August 2048 | $1,285 | $1,996 | $235,279 |
| September 2048 | $1,274 | $2,007 | $233,272 |
| October 2048 | $1,264 | $2,018 | $231,254 |
| November 2048 | $1,253 | $2,029 | $229,225 |
| December 2048 | $1,242 | $2,040 | $227,185 |
| 2048 | $15,483 | $23,897 | $225,134 |
| January 2049 | $1,231 | $2,051 | $225,134 |
| February 2049 | $1,219 | $2,062 | $223,071 |
| March 2049 | $1,208 | $2,073 | $220,998 |
| April 2049 | $1,197 | $2,085 | $218,913 |
| May 2049 | $1,186 | $2,096 | $216,818 |
| June 2049 | $1,174 | $2,107 | $214,710 |
| July 2049 | $1,163 | $2,119 | $212,592 |
| August 2049 | $1,152 | $2,130 | $210,461 |
| September 2049 | $1,140 | $2,142 | $208,320 |
| October 2049 | $1,128 | $2,153 | $206,166 |
| November 2049 | $1,117 | $2,165 | $204,001 |
| December 2049 | $1,105 | $2,177 | $201,825 |
| 2049 | $13,883 | $25,497 | $199,636 |
| January 2050 | $1,093 | $2,188 | $199,636 |
| February 2050 | $1,081 | $2,200 | $197,436 |
| March 2050 | $1,069 | $2,212 | $195,224 |
| April 2050 | $1,057 | $2,224 | $192,999 |
| May 2050 | $1,045 | $2,236 | $190,763 |
| June 2050 | $1,033 | $2,248 | $188,515 |
| July 2050 | $1,021 | $2,261 | $186,254 |
| August 2050 | $1,009 | $2,273 | $183,981 |
| September 2050 | $997 | $2,285 | $181,696 |
| October 2050 | $984 | $2,298 | $179,399 |
| November 2050 | $972 | $2,310 | $177,089 |
| December 2050 | $959 | $2,322 | $174,766 |
| 2050 | $12,175 | $27,205 | $172,431 |
| January 2051 | $947 | $2,335 | $172,431 |
| February 2051 | $934 | $2,348 | $170,084 |
| March 2051 | $921 | $2,360 | $167,723 |
| April 2051 | $909 | $2,373 | $165,350 |
| May 2051 | $896 | $2,386 | $162,964 |
| June 2051 | $883 | $2,399 | $160,565 |
| July 2051 | $870 | $2,412 | $158,153 |
| August 2051 | $857 | $2,425 | $155,728 |
| September 2051 | $844 | $2,438 | $153,290 |
| October 2051 | $830 | $2,451 | $150,838 |
| November 2051 | $817 | $2,465 | $148,374 |
| December 2051 | $804 | $2,478 | $145,896 |
| 2051 | $10,353 | $29,027 | $143,404 |
| January 2052 | $790 | $2,491 | $143,404 |
| February 2052 | $777 | $2,505 | $140,899 |
| March 2052 | $763 | $2,518 | $138,381 |
| April 2052 | $750 | $2,532 | $135,849 |
| May 2052 | $736 | $2,546 | $133,303 |
| June 2052 | $722 | $2,560 | $130,743 |
| July 2052 | $708 | $2,574 | $128,170 |
| August 2052 | $694 | $2,587 | $125,582 |
| September 2052 | $680 | $2,601 | $122,981 |
| October 2052 | $666 | $2,616 | $120,365 |
| November 2052 | $652 | $2,630 | $117,736 |
| December 2052 | $638 | $2,644 | $115,092 |
| 2052 | $8,409 | $30,971 | $112,433 |
| January 2053 | $623 | $2,658 | $112,433 |
| February 2053 | $609 | $2,673 | $109,761 |
| March 2053 | $595 | $2,687 | $107,074 |
| April 2053 | $580 | $2,702 | $104,372 |
| May 2053 | $565 | $2,716 | $101,655 |
| June 2053 | $551 | $2,731 | $98,924 |
| July 2053 | $536 | $2,746 | $96,179 |
| August 2053 | $521 | $2,761 | $93,418 |
| September 2053 | $506 | $2,776 | $90,642 |
| October 2053 | $491 | $2,791 | $87,851 |
| November 2053 | $476 | $2,806 | $85,046 |
| December 2053 | $461 | $2,821 | $82,225 |
| 2053 | $6,335 | $33,045 | $79,388 |
| January 2054 | $445 | $2,836 | $79,388 |
| February 2054 | $430 | $2,852 | $76,537 |
| March 2054 | $415 | $2,867 | $73,669 |
| April 2054 | $399 | $2,883 | $70,787 |
| May 2054 | $383 | $2,898 | $67,889 |
| June 2054 | $368 | $2,914 | $64,975 |
| July 2054 | $352 | $2,930 | $62,045 |
| August 2054 | $336 | $2,946 | $59,099 |
| September 2054 | $320 | $2,962 | $56,138 |
| October 2054 | $304 | $2,978 | $53,160 |
| November 2054 | $288 | $2,994 | $50,166 |
| December 2054 | $272 | $3,010 | $47,156 |
| 2054 | $4,122 | $35,258 | $44,130 |
| January 2055 | $255 | $3,026 | $44,130 |
| February 2055 | $239 | $3,043 | $41,087 |
| March 2055 | $223 | $3,059 | $38,028 |
| April 2055 | $206 | $3,076 | $34,952 |
| May 2055 | $189 | $3,092 | $31,860 |
| June 2055 | $173 | $3,109 | $28,751 |
| July 2055 | $156 | $3,126 | $25,625 |
| August 2055 | $139 | $3,143 | $22,482 |
| September 2055 | $122 | $3,160 | $19,322 |
| October 2055 | $105 | $3,177 | $16,145 |
| November 2055 | $87 | $3,194 | $12,951 |
| December 2055 | $70 | $3,212 | $9,739 |
| 2055 | $1,761 | $37,620 | $6,510 |
| January 2056 | $53 | $3,229 | $6,510 |
| February 2056 | $35 | $3,246 | $3,264 |
| March 2056 | $18 | $3,264 | $0 |
| 2056 | $53 | $6,510 | $0 |
Home Affordability on $180,000/Year
Using the 28/36 rule — your PITI payment should stay under 28% of gross income, total debt under 36%:
| Monthly | Annual | |
|---|---|---|
| Gross income | $15,000 | $180,000 |
| Max PITI (28%) | $4,200 | $50,400 |
| Max total debt (36%) | $5,400 | $64,800 |
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% | $649,000 | ~$4,201 | No PMI |
| 10% | ~$552,000 | ~$4,200 | Includes PMI |
| 5% | ~$519,000 | ~$4,200 | 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 | $4,200 | $649,000 |
| $300/mo | $5,100 | ~$613,000 |
| $500/mo | $4,900 | ~$589,000 |
| $800/mo | $4,600 | ~$553,000 |
Every $300/month in existing debt reduces your buying power by roughly $36,000.
How Interest Rate Affects Affordability
On a $180,000 salary with 20% down:
| Rate | Max Home Price | Monthly PITI |
|---|---|---|
| 5.5% | ~$727,000 | ~$4,200 |
| 6.0% | ~$688,000 | ~$4,200 |
| 6.5% | $649,000 | ~$4,201 |
| 7.0% | ~$610,000 | ~$4,200 |
| 7.5% | ~$578,000 | ~$4,200 |
A 1% rate drop adds roughly $78,000 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 $39,000+ 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 $180,000 salary. Adjust the home value, down payment, and local taxes to see your exact monthly PITI payment.