Find your maximum home price using the lender-standard 28/36 DTI rule. Enter your gross income, monthly debts, and down payment to see exactly how much mortgage you can afford.
Max housing payment = Gross monthly income × 28%. Max total debt payments = Gross monthly income × 36%. Max home price is the loan supported by that payment, plus your down payment.
On $100,000 gross ($8,333/month) with no other debts, the 28% front-end cap is $2,333/month. At 6.5% over 30 years that payment supports about $290,000 of loan after allowing ~$500/month for taxes and insurance — roughly a $330,000–$360,000 home with 10% down.
Lenders cap housing costs (principal, interest, taxes, insurance, HOA) at 28% of gross monthly income, and all debt payments combined at 36%. FHA allows up to 31/43, and some conforming loans stretch to 45–50% with strong compensating factors.
Directly. Every $100/month of other debt reduces the mortgage payment you qualify for by about $100, which is roughly $15,000–$17,000 of borrowing power at current rates.
Usually not. Approval is based on gross income before tax, retirement contributions, childcare, and maintenance. A safer target is keeping total housing costs under 25% of take-home pay.
A lot. Moving from a 0.6% to a 2.2% property tax state on a $400,000 home adds ~$530/month, cutting your affordable price by roughly $80,000 at the same income.
Yes, twice over: it raises the purchase price for the same loan, and above 20% it removes PMI, freeing another $100–$250/month toward principal and interest.