How Much House Can You Actually Afford?

Short answer: Affordability comes down to your debt-to-income ratio (DTI), not just your income alone — lenders generally want your total monthly debts, including the new mortgage payment, to stay under a certain percentage of your gross monthly income.

What goes into the calculation

• Gross monthly income
• Existing monthly debts (car payments, student loans, credit cards, etc.)
• The proposed mortgage payment (principal, interest, taxes, and insurance)
• Down payment amount, which affects your loan amount and monthly payment

Why “how much you qualify for” isn’t always “how much you should spend”

Lenders will tell you the maximum you qualify for based on DTI limits, but that’s not necessarily the amount you should comfortably spend. It’s worth budgeting your own comfort level for housing costs alongside your other financial goals, separate from the maximum a lender will approve.

Get pre-qualified for a real answer

Get pre-qualified and we’ll walk through your income, debts, and goals to find a number that actually fits your situation — not just the highest number available.