Home Affordability Guide - Mortgage, Down Payment & PMI Tools
Buying a home is likely the biggest financial decision you will make. Our free calculators and expert guides help you estimate how much house you may be able to afford, what your monthly payments could look like, and whether buying or renting makes more sense for your situation.
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People Also Ask
How much house can I afford on a $75,000 salary?
With a $75,000 salary, a common 28/36-rule scenario often points to a home priced between $225,000 and $300,000. This assumes a 20% down payment, good credit, and reasonable debt levels. Use our mortgage calculator for a scenario-based estimate.
Is it better to rent or buy in 2026?
It depends on how long you plan to stay, local market conditions, and your financial situation. Generally, buying makes more sense if you plan to stay 5+ years and the price-to-rent ratio in your area is below 20x. Our rent vs buy calculator compares both scenarios.
How much should I save for a down payment?
A 20% down payment eliminates PMI in many conventional-loan scenarios, while some programs allow as little as 3% down on conventional loans or 3.5% on FHA loans. The amount to model depends on savings rate, timeline, and PMI tradeoffs.
What credit score do I need to buy a house?
Minimum credit scores vary by loan type: 620+ for conventional, 580+ for FHA, and no set minimum for VA loans (though lenders typically want 620+). A score of 740+ gets you the best interest rates, potentially saving hundreds per month.
What is PMI and how can I avoid it?
Private Mortgage Insurance (PMI) is required when your down payment is less than 20%. It typically costs 0.5-1% of the loan annually. You can avoid it by putting 20% down, using a VA loan, or requesting removal once you reach 20% equity.