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Can I Afford a $500,000 House?
Housing & Rent Affordability
A $500,000 purchase price is pre-loaded with 20% down and a 30-year mortgage so you can stress-test the payment against the 28/36 DTI rule before you tour homes.
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Plain-English guide
Terms & how it works
Confused by a field? Read the short definitions here while you use the tool.
Income
Money you earn that can support a payment. Higher stable income usually increases what looks affordable.
Existing debts
Other monthly obligations (loans, cards). More debt leaves less room for a new payment.
Target price / cost
The sticker price or annual cost you’re checking against your budget.
The 28/36 Housing DTI Rule
Lenders and planners often use debt-to-income (DTI) caps: housing costs near 28% of gross income, and all debts under 36%.
- 28% front-end: principal, interest, taxes, and insurance (PITI).
- 36% back-end: PITI plus car loans, cards, student debt, etc.
- Staying under both leaves room for savings and surprises.
How to use this calculator
- Keep or edit the $500,000 target price.
- Enter household gross income and existing monthly debts.
- Set taxes/insurance escrow for your ZIP.
- Compare housing and total DTI caps in the live results.
Frequently Asked Questions
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