What is the 28/36 rule?

Housing costs should not exceed 28% of gross monthly income (front-end DTI); total debt payments should not exceed 36% (back-end DTI). Many lenders allow 43% back-end DTI for conventional loans.

How much house can I afford on $100,000 salary?

Using 28% front-end: $2,333/month for housing. At 7% with 20% down, this qualifies for approximately $295,000-$310,000 in home price. Actual qualifying depends on credit score, debts, and assets.

Does the down payment significantly affect affordability?

Yes — a 20% down payment eliminates PMI (~$100-$200/month), reduces the loan amount, and lowers DTI. Moving from 5% to 20% down on a $300,000 home reduces the monthly payment by approximately $400.

Home Affordability Calculator

Calculate the maximum home price you can afford based on income, debts, down payment, and DTI ratios. Uses lender guidelines of 28% front-end and 36-43% back-end DTI.

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Frequently Asked Questions

What is the 28/36 rule?

How much house can I afford on $100,000 salary?

Does the down payment significantly affect affordability?