With an income of $100k, your comfortable buying power typically falls into the $310k to $360k range. However, the exact home price you can afford heavily depends on your stored cash for a down payment and any existing debts you currently carry.
Quick answer: ~$310,000 to ~$360,000
On a $100,000 salary, the 28% rule gives you ~$2,333/month for housing costs. With 20% down at 7%, that supports a home price of roughly $310,000-$360,000. With existing debt (car, student loans), that range drops. Adjust below for your exact numbers.
You can afford a home around
$350,000
Based on your current income, debt, and housing cost assumptions.
Monthly Housing Budget
$2,310
This appears to be within a comfortable borrowing range.
Estimated Loan Amount
$280,000
Estimated Cash Needed (Down + Closing)
$80,000
Estimates based on your inputs. Actual results may vary. Terms →
Keep track of multiple affordability setups.
| Down Payment | Home Price Range | Monthly Payment | % of Income |
|---|---|---|---|
| 5% down | ~$280,000 | ~$2,150/mo | 25% of gross |
| 10% down | ~$300,000 | ~$2,230/mo | 26% of gross |
| 20% down | ~$350,000 | ~$2,310/mo | 27.7% of grossBest |
| 20% + no debt | ~$370,000 | ~$2,440/mo | 29% of gross |
Gross monthly income: $8,333. At 28% front-end DTI your max housing payment is $2,333/mo. At a safer 25%, that is $2,083/mo. This translates to a purchasing power of roughly $310k to $360k depending on your down payment.
If you carry $500/mo in car and student loan payments, your mortgage allowance under the 36% back-end rule drops to $3,000/mo minus $500 = $2,500/mo. At 43% max DTI, debt shrinks your home value heavily.
Hitting six figures is a milestone, giving you tremendous leverage if your debts remain low. Consider an FHA loan (3.5% down) if you lack liquid cash, or delay to save a 5% to 10% conventional block.
Don't Max Out Your Approval
There's a massive difference between what you can legally borrow and what makes financial sense. Account for home repairs, rising property taxes, and your retirement portfolio before closing on a property.
Estimates based on your inputs. Actual results may vary. Terms →