Home Affordability Calculator — $80K Income
Maximum home price you can afford on an $80,000 annual income using the 28/36 rule.
Quick Answer
Max home price: $326,331
Monthly gross income
$6,667
28% front-end limit
$1,867/mo
36% back-end limit
$2,000/mo
Max monthly payment
$1,867/mo
Max loan amount
$286,331
Down payment
$40,000
- ✓Your binding constraint is the 28% front-end rule
- ✓Existing debts of $400/mo reduce your buying power by ~$69,928
- ✓Some lenders allow 43–50% DTI — this is the conservative, recommended guideline
- ✓Property tax, insurance, and HOA are not included in this P&I-only estimate
Maximum Home Price
$326,331.42
Maximum Loan Amount
$286,331.42
Max Monthly P&I
$1,866.67
Estimated Property Tax
$326.33/mo
Your DTI Ratio
34.00%
Fannie Mae guidelines: housing costs ≤28% of gross income; total debt ≤36% (DTI).
Frequently Asked Questions
How much house can I afford on $80,000/year?
Based on standard lending guidelines, your maximum home price is $286,331 loan + $40,000 down payment = $326,331. This uses the 28% front-end and 36% back-end debt-to-income rules at current rates.
How do my existing debts affect how much home I can afford?
Your $400/month in existing debts directly reduce your available budget for a mortgage. The 36% DTI rule caps total debt payments (mortgage + existing) at 36% of gross income. Paying down $400 in monthly debt before buying could add $66,667 to your max home price.
Is $40,000 enough for a down payment?
$40,000 is a solid down payment that boosts your buying power and avoids PMI (if ≥20% of the home price).
What other costs should I budget for beyond the mortgage payment?
Property tax (0.5–2.5% of home value annually depending on state), homeowners insurance (~$150–200/month), HOA fees (if applicable), and maintenance (~1% of home value/year). These can add $500–1,500/month on top of the P&I payment shown, significantly affecting true affordability.
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Results are estimates for informational purposes only and do not constitute financial advice. Tax figures use 2026 US rates. Consult a licensed financial advisor before making financial decisions.Last updated: April 2026