# How much mortgage can I afford based on income and debt

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## How much mortgage can I afford

To determine how much mortgage you can afford with your salary,  you will need to consider several factors, including your income, debt, and credit score.

Lenders typically use the 28/36 rule to determine how much mortgage you can afford. This means that your mortgage payment (including taxes and insurance):

• Should not be more than 28% of your gross monthly income.
• Your total debt payments should not exceed 36% of your gross monthly income.

Additionally, lenders will consider your credit score when determining how much mortgage you can afford. A higher credit score can help you qualify for a larger mortgage.

## Mortgage affordability calculator

Enter your income and monthly debts and expenses to calculate how much you can afford to pay in monthly mortgage payments.

Maximum monthly mortgage payment: \$

## How much monthly mortgage can I afford

To determine how much you can afford to pay in monthly mortgage payments, you’ll need to consider a number of factors, including your income, monthly expenses, and the size of the down payment you’re able to make.

Lenders typically recommend that your monthly mortgage payment not exceed 28% of your gross monthly income. This is known as the “front-end ratio”.

### With 50k salary

If you earn a salary of \$50,000 per year, you can typically afford a monthly mortgage payment of \$1,167, assuming a front-end ratio of 28% and a back-end ratio of 36%.

This means that your gross monthly income (before taxes) would be \$4,167. And your total monthly debts and expenses (including your mortgage payment) would be no more than \$1,500.

### With 60K salary

If you earn a salary of \$60,000 per year, you can typically afford a monthly mortgage payment of \$1,400, assuming a front-end ratio of 28% and a back-end ratio of 36%.

This means that your gross monthly income (before taxes) would be \$5,000. And your total monthly debts and expenses (including your mortgage payment) would be no more than \$1,800.

### With 70k Salary

If you earn a salary of \$70,000 per year, you can typically afford a monthly mortgage payment of \$1,600, assuming a front-end ratio of 28% and a back-end ratio of 36%.

This means that your gross monthly income (before taxes) would be \$5,833. And your total monthly debts and expenses (including your mortgage payment) would be no more than \$2,100.

### With 80K salary

If you earn a salary of \$80,000 per year, you can typically afford a monthly mortgage payment of \$1,867, assuming a front-end ratio of 28% and a back-end ratio of 36%.

This means that your gross monthly income (before taxes) would be \$6,667. And your total monthly debts and expenses (including your mortgage payment) would be no more than \$2,400.

### With 90K salary

If you earn a salary of \$90,000 per year, you can typically afford a monthly mortgage payment of \$2,133, assuming a front-end ratio of 28% and a back-end ratio of 36%.

This means that your gross monthly income (before taxes) would be \$7,500. And your total monthly debts and expenses (including your mortgage payment) would be no more than \$2,700.

### With 100K salary

If you earn a salary of \$100,000 per year, you can typically afford a monthly mortgage payment of \$2,333, assuming a front-end ratio of 28% and a back-end ratio of 36%.

This means that your gross monthly income (before taxes) would be \$8,333. And your total monthly debts and expenses (including your mortgage payment) would be no more than \$3,000

### With 150k Salary

If you earn a salary of \$150,000 per year, you can typically afford a monthly mortgage payment of \$3,550, assuming a front-end ratio of 28% and a back-end ratio of 36%.
This means that your gross monthly income (before taxes) would be \$12,500. And your total monthly debts and expenses (including your mortgage payment) would be no more than \$4,500.