What's the Most Expensive House You Can Afford on 40,000 Per Year?

Annual Income
(before tax)
$
Down Payment $
Interest Rate %
Term of Loan
Pct of Income
(for housing)
%
(results appear below)

With an income of $40,000, and a down payment of $40,000, you should be able to afford a house that costs $235,497.

This assumes a 30-year mortgage at 4% interest, and spending 28% of your income on your mortgage payment.

What House Can You Buy Based on Interest Rate and Down Payment?
Down 3.50% 3.75% 4.00% 4.25% 4.50%
8,000 215,849 209,534 203,497 197,725 192,204
16,000 223,849 217,534 211,497 205,725 200,204
24,000 231,849 225,534 219,497 213,725 208,204
32,000 239,849 233,534 227,497 221,725 216,204
40,000 247,849 241,534 235,497 229,725 224,204
48,000 255,849 249,534 243,497 237,725 232,204
56,000 263,849 257,534 251,497 245,725 240,204
64,000 271,849 265,534 259,497 253,725 248,204
72,000 279,849 273,534 267,497 261,725 256,204
80,000 287,849 281,534 275,497 269,725 264,204