Affordability Calculator
How much house can I afford?
I make $180,000 (180K) a year: How much house can I afford?
Using the assumptions shown—zero monthly debt, a 20% down payment, a 30-year fixed mortgage at 7.28%, 1.00% annual property tax, $1,800 annual homeowners insurance and no HOA dues—a $180,000 gross annual income supports a planning estimate of about $642,140 for the home price. That includes an estimated $128,428 down payment, a $513,712 mortgage and a total monthly housing payment near $4,200.
The calculation uses the lower of a 28% front-end housing limit and a 36% back-end total-debt limit. It is not a lender preapproval, and it does not account for closing costs, maintenance, utilities, cash reserves, income taxes or your other financial goals. Change the inputs to match your situation.
Planning estimate
| Estimated mortgage amount | $513,712 |
|---|---|
| Estimated down payment | $128,428 |
| Principal & interest | $3,514.88/month |
| Property tax | $535.12/month |
| Homeowners insurance | $150.00/month |
| PMI | $0.00/month |
| HOA dues | $0.00/month |
This is a budgeting scenario, not a preapproval or underwriting decision. It excludes closing costs, maintenance, utilities, cash-reserve requirements and household goals.
