How Much House Can I Afford on a $100k Salary?
Here’s a quick estimate of the home price that fits a $100k yearly income under standard lender rules.
Maximum Home Price
$348,000
Loan Amount
$278,400
Monthly Principal & Interest
$1,760.89
Total Monthly Housing Cost
$2,308.89
Summary
With a $100k salary, a home around $348,000 keeps your monthly housing cost in line with the 28/36 DTI rule and the assumptions listed below.
Assumptions
- 20% down payment
- 6.5% fixed mortgage interest rate
- $400 per month in other debts
- 1.2% property tax rate
- $200/month insurance & HOA
- 30-year mortgage term
- 28/36 debt-to-income rule
This is an educational estimate only. Speak with a lender to understand your exact borrowing capacity.