How Much House Can I Afford on a $70k Salary?
Last Updated: June 17, 2026
Find out exactly how much house you can afford based on your income, debts, and lender underwriting rules.
Before calculating your maximum housing budget, it is important to know your real credit score, as it directly impacts your future interest rate. Under US federal law, you are entitled to a free credit report. You can get your official report at the AnnualCreditReport.com.
Financial Details
Underwriting Standard
Your Purchasing Power
Maximum Home Price
Max Loan Amount: $0
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Frequently Asked Questions (FAQ)
How much of my income should I spend on housing?
A standard industry guideline is the 28/36 rule. This rule suggests that you should spend no more than 28% of your gross monthly income on housing expenses, and no more than 36% of your income on total debt payments (including car loans and credit cards). You can read more about this benchmark on Bankrate.
Why shouldn't I just use my gross income to set my budget?
Lenders use your gross (pre-tax) income to determine your maximum approval limit. However, you pay your mortgage with your net (after-tax) take-home pay. Relying solely on gross income can lead you to buy a house that leaves you "house poor" and unable to afford other living expenses.
What is a Debt-to-Income (DTI) ratio?
Your DTI ratio is the percentage of your gross monthly income that goes toward paying debts. Lenders calculate this to ensure you have enough financial cushion to safely manage a new mortgage payment alongside your existing obligations.
Does the affordability calculator include maintenance costs?
No. Calculators estimate your mortgage payment, but you must manually budget for maintenance. Experts suggest saving 1% to 2% of your home's value annually for inevitable repairs and emergency upkeep.
How does my down payment size affect my affordability?
A larger down payment directly reduces the amount of money you need to borrow. This lowers your monthly principal and interest payments, helps you avoid PMI, and ultimately increases your purchasing power.