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How much house can I afford by monthly payment?

Start from the payment you're comfortable with. We work backwards to the highest home price that fits — with taxes, insurance, PMI and HOA included.

Monthly housing budgetall-in: P&I, tax, insurance, PMI, HOA
/ mo
Down payment
Interest rateAPR, fixed
%
Loan term

You can afford a home up to

$351,041

Loan $301,041 · 14.2% down

  • Principal & interest$1,902.78
  • PMI$125.43
  • Property tax$321.79
  • Home insurance$150.00

Your down payment is under 20% of this price, so PMI is included and lowers the price you can reach.

Max home price
$351,041
Loan amount
$301,041
Payment used
$2,500.00
Income for 28% rule
$107,143
Max home price$351,041

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Home price by monthly payment

Monthly payment10% down20% down
$1,500$193,402$214,065
$2,000$265,032$293,350
$2,500$336,663$372,630
$3,000$408,294$451,915
$3,500$479,925$531,195
$4,000$551,555$610,480
$5,000$694,815$769,045

6.5% example rate, 30-year fixed, 1.1% property tax, $1,800/yr insurance, 0.5% PMI under 20% down, no HOA.

Assumptions

  • Fixed-rate loan. Property tax scales with the price; insurance and HOA are fixed.
  • PMI applies when the down payment is under 20% of the price.
  • Closing costs aren't included — budget roughly 2–5% of the price in cash.

Frequently asked questions

How much house can I afford with a $2,500 monthly payment?+

At 6.5% for 30 years with 20% down, 1.1% property tax and $1,800/yr insurance, about $372,630. With 10% down (and PMI) it's about $336,663.

Should my budget include taxes and insurance?+

Yes. Lenders look at the full payment — principal, interest, property tax, homeowners insurance, PMI and HOA dues — so this calculator works backwards from that all-in number.

What income do I need for this payment?+

Under the common 28% guideline, your gross monthly income should be at least the payment ÷ 0.28. The calculator shows that annual income under the results.

Why does a bigger down payment raise the price so much?+

Every dollar of down payment adds a dollar to the price without adding to the loan, and reaching 20% down also removes PMI from the payment.

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Last reviewed October 15, 2026. Calculator version 1.0.0. Sources: US Census Bureau, ACS 2024 1-year, Table B25103 (Median Real Estate Taxes Paid) · US Census Bureau, ACS 2024 1-year, Table B25077 (Median Value, Owner-Occupied). Results are estimates for educational purposes, not financial, tax or lending advice. How we check our numbers.