How much house can I afford on $100,000 a year?
- Principal & interest
- $1,871
- Property tax & insurance (est.)
- $447
- Loan amount
- $296,000
- Total interest over 30 years
- $377,532
Affordable home price by interest rate
| Rate (30-yr fixed) | Home price | Loan amount | Principal & interest |
|---|---|---|---|
| 5.00% | $424,000 | $339,000 | $1,821 |
| 5.50% | $406,000 | $325,000 | $1,843 |
| 6.00% | $389,000 | $311,000 | $1,864 |
| 6.50% | $372,000 | $298,000 | $1,883 |
| 7.00% | $357,000 | $286,000 | $1,902 |
| 7.50% | $343,000 | $274,000 | $1,919 |
| 8.00% | $330,000 | $264,000 | $1,935 |
Affordable home price with other monthly debts
| Other debts / month | Home price at 6.5% |
|---|---|
| $0 | $372,000 |
| $300 | $372,000 |
| $500 | $372,000 |
| $800 | $351,000 |
| $1,200 | $287,000 |
Frequently asked questions
How much house can I afford making $100,000 a year?
About $372,000, assuming 20% down ($74,000), a 30-year fixed rate of 6.5% and no other debts. That keeps your total housing payment near $2,333 per month, 28% of your $8,333 gross monthly income.
What mortgage payment can I afford on $100k?
Lenders typically cap housing costs (principal, interest, taxes and insurance) at 28% of gross income — $2,333 per month — and all debts combined at 36%, or $3,000 per month.
How do car loans or student debt change this?
Every dollar of monthly debt above $667 reduces your housing budget dollar-for-dollar under the 36% rule. With $800/month of other debt you could afford about $351,000.
Related
Assumes 20% down (no PMI), 1.1% property tax and 0.35% insurance per year, and the 28/36 debt-to-income guideline. Lenders also weigh credit score, reserves and loan type. Educational estimate, not financial advice. Methodology.