SwitchWizeSmart financial decisions
Trending

Home Affordability Calculator — How Much House Can You Afford?

Calculate the maximum home price you can afford based on your income, debts, down payment, and current mortgage rates.

Quick answer: Home affordability depends on income, debts, down payment, mortgage rate, taxes, insurance, and lender DTI limits. The result is a planning estimate, not a loan approval.

Maximum Home Price
$420,859
Maximum Home Price
$420,859
Max Monthly Payment (28% rule)
$2,333
Max Payment (36% DTI rule)
$2,500
Conservative Home Budget
$300,000
Breakdown
$425,692total
Maximum Home Price$420,859
Max Monthly Payment (28% rule)$2,333
Max Payment (36% DTI rule)$2,500
Total$425,692
Diagnostic

To hit your goal, you need to plan around $420,859.

Lock this number into your Money Map and we'll track progress.

Track this in Money Map
What to do next

Compare Mortgage Rates

Your action plan
  1. 1

    Set the target and timeline for this plan

    Find out how much house you can afford based on your income and debts.

  2. 2

    Compare the result against current market-rate options

    Assumptions change the answer, especially when rates, taxes, or timing matter.

  3. 3

    Save the result to Money Map or use the linked next action

    Turn the result into a prioritized action instead of treating it as a one-off number.

Compare Mortgage Rates

This is an educational estimate, not tax, legal, investment, or lending advice. Tax rules, rates, and eligibility change and depend on your full situation. Confirm with a qualified professional or the provider before acting.

Calculator action path

Turn this result into a decision

Every SwitchWize calculator connects to a product comparison, rate context, guidance, alerts, and Money Map.

Rate authority hub
Compare
Compare Mortgage RatesMove from calculation to current product options.
Rate Trend
Track mortgage ratesUse market context before you decide when to act.
Guide
How Much House Can I Afford? The Real CalculationLenders qualify you based on gross income, but what you can actually afford depends on take-home pay, your savings goals, and local costs. Here's how to find a number that works for your life.
Money Map
Add this scenario to Money MapTurn the result into a saved opportunity or plan item.
Alert
Create a rate alertWatch the market instead of checking manually.

About mortgage rates

Mortgage rates depend on loan type (30-yr fixed, 15-yr fixed, ARM, FHA, VA, jumbo), your credit score, down payment, points paid, loan amount, property state, and whether you're purchasing or refinancing. The calculator above uses a representative market rate for payment estimates — your actual rate will vary.

For a personalized rate comparison, use the tool below to see lenders ranked by APR, loan type, and your profile.

Compare mortgage rates
30-yr fixed · 15-yr fixed · FHA · VA · ARM — ranked by APR
Compare rates →

Mortgage rates shown on SwitchWize compare pages include loan type, assumed FICO, LTV, and points. Representative only — verify all terms directly with the lender. Advertising disclosure

Frequently Asked Questions

Everything you need to know.

What income do I need to afford a $400,000 house?
At 6.72% with 10% down, the monthly P&I on $360,000 is approximately $2,400. Adding taxes, insurance, and PMI brings total housing costs to roughly $3,100/month. At the 28% guideline, that requires $133,000/year gross income.
How much should I save for a down payment?
20% avoids PMI and gives you the best rates. But 3–5% down (FHA loans) or 0% (VA, USDA) are valid options if you have a stable income and plan to stay long-term. The 20% rule is a guideline, not a requirement.
Is the Home Affordability Calculator — How Much House Can You Afford? free to use?
Yes. SwitchWize calculators are free, and you do not need an account to run scenarios or view the result.
Does using the Home Affordability Calculator — How Much House Can You Afford? affect my credit score?
No. Using a calculator does not trigger a credit check. A credit impact can occur only if you apply directly with a lender, card issuer, or provider.
Are the results personalized financial advice?
No. Calculator outputs are educational estimates based on the inputs you enter. Review assumptions and confirm terms directly with providers before making a financial decision.
What should I do after seeing the result?
Use the recommendation module on this page to compare mortgage rates, or run Money Map to compare this home & mortgage decision with your other opportunities.
How does SwitchWize choose related offers?
Related offers are matched by the calculator surface (mortgage) and ranked using SwitchWize data such as rate, fees, trust signals, product fit, and switching friction. Paid relationships do not change organic ranking order.
How fresh are the rates and offers shown?
Rate and offer data is reviewed on a recurring cadence and every offer module shows review context or links to the methodology and disclosure pages.
Where can I see the ranking methodology?
The SwitchWize methodology page explains how rate freshness, editorial review, affiliate disclosure, and category ranking factors work.
Can Money Map use this result?
Yes. Money Map is the broader diagnostic path: it compares savings, mortgage, cards, and debt so you can see whether this calculator result is your highest-impact next move.

Why This Matters

Buying more home than you can afford is the most common financial mistake in America. The bank will often approve a loan larger than is financially comfortable — their DTI limit is not a budget recommendation.

How to Use It

  1. 1Enter your annual income and monthly debt payments
  2. 2Set your down payment amount
  3. 3Enter current interest rate and target DTI
  4. 4See your maximum affordable home price and monthly payment breakdown
Related calculators
Mortgage CalculatorDTI Ratio CalculatorRent vs Buy Calculator
Compare Mortgage Rates
Home Affordability Calculator — How Much House Can You Afford? | SwitchWize