$
Before tax
$
If you’re buying together
$
$
Per month: car, loans, cards
More options· 7.24% over 30 years, First-time buyer
%
You can put down 3% instead of 5%
%
A year, as a share of the price
$
A year
$
A month
%
A year, with less than 20% down
Freddie Mac’s average 30-year fixed rate was 7.24% on 29 October 2026.
You could afford a home up to
$246,177
$206,177 mortgage + $40,000 down payment
- Mortgage payment
- $1,405/mo
- All housing costs
- $1,867/mo
- Mortgage$206,177
- Down payment$40,000
Your income sets the limit: at this price, housing costs reach 28% of your gross income, the most lenders usually allow.
See this home in the mortgage calculatorWhat this means
The mortgage payment would take about 21% of your income before tax.
This is the most lenders’ rules allow, not what’s comfortable. Buying below it leaves room for saving, repairs and higher rates when your deal ends.
Next step
Monthly costs at this price
| Per month | Per year | |
|---|---|---|
| Mortgage payment | $1,405.09 | $16,861.08 |
| Property tax | $225.66 | $2,707.92 |
| Home insurance | $150.00 | $1,800.00 |
| PMI | $85.91 | $1,030.92 |
| Total | $1,866.66 | $22,399.92 |
How it’s worked out
- Price your income allows
- $246,177
- Price your savings allow
- $1,333,333
- Housing costs (limit 28%)
- 28.0%
- All debts (limit 36%)
- 28.0%
Assumptions in this estimate
- Uses the 28/36 guideline: housing costs (mortgage, property tax, insurance, PMI and HOA fees) up to 28% of gross income, and all debt payments up to 36%. Lenders can approve higher ratios, so this is a comfortable limit rather than the most you could be lent.
- Assumes all your savings go towards the down payment. Closing costs, usually a few percent of the price, are extra.
- PMI is charged while your down payment is under 20%.