How much house can I afford?

What actually sets the number

Not salary on its own. Lenders cap the share of your gross monthly income that can go to all debt payments, the mortgage included. That ceiling differs by program — 36% on conventional, 43% on FHA, 41% on VA — and your existing car payment or student loan comes out of the same allowance before the house does.

Which is why the answer is not a multiple of income. The calculator solves for the loan whose full payment — principal, interest, taxes, insurance, and mortgage insurance under 20% down — lands on that ceiling, with taxes and insurance scaling as the price moves.

The loan type moves it more than you'd think

Take a $95,000 household income, $450 of monthly debt payments and $60,000 saved. A conventional loan supports roughly $332,000. Switch to FHA and the same borrower supports about $390,000 — nearly $58,000 more, because the ceiling moves from 36% to 43%.

Nothing about the borrower changed. FHA also carries mortgage insurance for the life of most loans, so the larger number is not automatically the better deal — it is a different trade, not a free upgrade. Change the loan type in the calculator and watch both the ceiling and the payment move together.

The ceiling is not a budget

This calculator answers what a lender will permit. It does not answer what you should spend, and those are genuinely different questions:

• Maintenance is not in the payment. A roof, a furnace, a water heater. A house bought at the ceiling leaves nothing for them.
• Rates move before you lock. A point of rate can take tens of thousands off what you qualify for, between an offer and a closing.
• Income can change.The ceiling is calculated on today's income, on the assumption it continues.
• Approval is not affordability. Lenders underwrite the loan, not your life. Childcare, travel, savings goals and everything else sit outside the ratio entirely.

Common questions

How much house can I afford on my salary?

It depends far more on your other debts and your loan type than on salary alone. Lenders cap the share of gross monthly income that can go to all debt payments including the mortgage — 36% on conventional, 43% on FHA, 41% on VA. On a $95,000 income with $450 of monthly debts and $60,000 saved, a conventional loan supports roughly $332,000 while FHA supports about $390,000. Same borrower, same savings, $58,000 apart.

Is the 28/36 rule still accurate?

It is a reasonable starting point, not a lender policy. The 28 refers to housing costs as a share of gross income and the 36 to all debt payments together. Real underwriting varies by loan program and allows more in some cases with compensating factors like strong reserves or credit. Treat 28/36 as a comfort guideline rather than the number a lender will actually use.

Does the calculator include taxes and insurance?

Yes. The monthly payment shown is full PITI — principal, interest, property taxes and insurance — plus mortgage insurance when the down payment is under 20%. Taxes and insurance scale with the price as it solves, which is why the answer is not a simple multiple of income.

Should I borrow the maximum I qualify for?

Usually not. The ceiling is what a lender will allow, not what leaves room for maintenance, a rate that moves before you lock, or an income that changes. A house at the top of your approval leaves nothing for the roof. Deciding what is comfortable is a separate question from what is permitted, and only you can answer it.