Question 1

How much house can I afford on an $80,000 salary?

Accepted Answer

On an $80k salary with minimal debt and a 10% down payment at current rates, most lenders will approve you for a home in the $280,000–$320,000 range. The 28% front-end rule means your monthly housing costs should stay under $1,867. Use the calculator above to run your exact numbers.

Question 2

What is the 28/43 rule for mortgages?

Accepted Answer

The 28/43 rule is the standard lender guideline: housing costs should not exceed 28% of gross monthly income (front-end), and total monthly debts should not exceed 43% (back-end). MorgCalc uses both rules to calculate your maximum home price.

Question 3

What is debt-to-income ratio (DTI)?

Accepted Answer

DTI is your total monthly debt payments divided by gross monthly income. Most lenders require total DTI including your new mortgage to stay under 43%. Lower DTI means more buying power.

Question 4

Does my credit score affect how much house I can afford?

Accepted Answer

Yes — significantly. A higher credit score qualifies you for lower rates, which increases buying power. Going from 650 to 750 can lower your rate by 0.5–1%, saving $100–200/mo on a $400k loan.

Question 5

What costs beyond the mortgage should I budget for?

Accepted Answer

Budget for closing costs (2–5% of loan amount), home inspection ($300–500), moving costs, immediate repairs, ongoing maintenance (1% of home value annually), and HOA fees if applicable. First-time buyers often underestimate these by $10,000–20,000.

Question 6

Should I get pre-approved before using this calculator?

Accepted Answer

Use this calculator first to understand your range, then get pre-approved. Pre-approval gives you a hard number from a lender based on your actual credit and income. It also strengthens your offer. Use the "Get pre-approved" button above to start.

Home Affordability Calculator —
how much can you actually afford?

The 28/43 DTI rule explained

Frequently Asked Questions

Home Affordability Calculator —how much can you actually afford?

The 28/43 DTI rule explained

Frequently Asked Questions

Home Affordability Calculator —
how much can you actually afford?