How Much House can I Afford on my Salary?

To find out how much house you can afford, first take your monthly salary and multiply by 0.36. That’s the most that all of your monthly debt should be. Then multiply your monthly salary by 0.28, and that will give you your monthly mortgage payment. Depending on the interest rate, you will be able to figure out the price of the house you can afford to buy based on most lender’s credit criteria.