Home Affordability Calculator
Find out exactly how much house you can afford based on your income, debts, and local market rates — updated automatically for your country.
Frequently Asked Questions
How much house can I afford on a $70,000 salary?
With a $70,000 salary, no other debts, and a 3% down payment, you can typically afford a home in the $220,000–$260,000 range using an FHA loan at current rates. With a conventional loan and 20% down, the range shifts to $200,000–$240,000. Your actual limit depends on local interest rates, property taxes, and any existing debts. Use the calculator above with your specific numbers for an accurate estimate.
What is the 28/36 rule?
The 28/36 rule is the standard guideline lenders use for conventional loans. It states that your monthly housing costs (mortgage + taxes + insurance) should not exceed 28% of your gross monthly income, and your total monthly debts (housing + car + student loans + credit cards) should not exceed 36%. Staying within these limits gives you the best chance of loan approval and financial stability.
How does a higher down payment help?
A larger down payment helps in three ways: it reduces your loan amount (lowering monthly payments), it eliminates PMI if you reach 20% of the home value, and it typically earns you a lower interest rate. Every additional $10,000 in down payment reduces your monthly payment by about $65–$75 and can increase your maximum home price by $15,000–$20,000.
Should I use FHA or conventional loan?
FHA loans are better if you have a lower credit score (580+), smaller down payment (3.5%), or higher debt-to-income ratio. Conventional loans are better if you have a good credit score (700+), at least 5–20% down, and manageable debts. FHA loans require mortgage insurance premiums for the life of the loan, while PMI on conventional loans is removed once you reach 20% equity.
Why does my country's mortgage rate appear automatically?
Kalcufy uses geo-detection to identify your country and pre-fills the average mortgage rate, property tax rate, and insurance defaults for your market. A Mexican buyer sees Mexican bank rates (around 10.5%), a German buyer sees Euribor-based rates (around 3.7%), and a US buyer sees the 30-year fixed average. You can always override these with your actual quoted rate.
What expenses are NOT included in this calculation?
This calculator does not include closing costs (2–10% of home price depending on country), moving expenses, immediate repairs or renovations, utility setup costs, or emergency fund requirements. Financial advisors recommend keeping 3–6 months of expenses in savings even after your purchase, so make sure your down payment isn't your entire savings.