How much house can I afford on $70K a year? (October 22, 2026)
On $70K a year, you can afford about $228,734 with 20% down (28/36 rule) or $202,579 with FHA at this week's 7.32% rate. See every scenario and run your own numbers.
The short answer
On $70K a year with no other debts, you can afford a home of about $228,734 with 20% down under the 28/36 rule, or about $202,579 with an FHA loan and 3.5% down, at this week's average 30-year rate of 7.32% (Freddie Mac, October 22, 2026). Lenders may approve up to about $383,389 with 20% down at a 45% debt-to-income ratio. Assumes 1.1% property tax and $2,000 insurance.
Home price by loan type on $70K a year
| Other debts | Scenario | Home price | Down payment | Max housing payment |
|---|---|---|---|---|
| No other debts | FHA, 3.5% down (31/43 limits) | $202,579 | $7,090 | $1,808 |
| No other debts | Conventional, 10% down (28/36 rule) | $197,026 | $19,703 | $1,633 |
| No other debts | Conventional, 20% down (28/36 rule) | $228,734 | $45,747 | $1,633 |
| No other debts | Conventional, 20% down (45% total DTI) | $383,389 | $76,678 | $2,625 |
| $500/mo other debts | FHA, 3.5% down (31/43 limits) | $202,579 | $7,090 | $1,808 |
| $500/mo other debts | Conventional, 10% down (28/36 rule) | $192,548 | $19,255 | $1,600 |
| $500/mo other debts | Conventional, 20% down (28/36 rule) | $223,535 | $44,707 | $1,600 |
| $500/mo other debts | Conventional, 20% down (45% total DTI) | $305,412 | $61,082 | $2,125 |
Gross monthly income is $5,833. Scenarios use a 30-year fixed loan at 7.32% (Freddie Mac average, week of October 22, 2026), property tax of 1.1% of the price a year and homeowners insurance of $2,000 a year. FHA adds the 1.75% upfront premium to the loan and 0.55% a year in mortgage insurance (HUD Mortgagee Letter 2023-05). Conventional with 10% down includes PMI at 0.46% a year, the rate for a 720-739 credit score on Arch MI's Feb. 2026 card.
What changes the answer
- Other debts come straight out of the 36% (or 43% or 45%) total limit. Every $100 a month of car or student loan payments lowers the price you can afford by roughly $15,595 at this week's rate with 20% down.
- Property taxes and insurance vary a lot by state and county. High-tax or high-insurance areas cut the price you can afford.
- Your rate depends on credit score and down payment. Each 0.5-point drop in rate raises the price a given payment supports by about 4% to 5%.
- Loan limits: conventional loans above $832,750 in most of the country (2026) are jumbo loans with stricter rules.
Run your own numbers
Use the affordability calculator with your real debts, down payment and local taxes, then check the full monthly cost in the payment calculator.
Frequently asked questions
How much house can I afford making $70K a year?
On $70K a year with no other debts, you can afford a home of about $228,734 with 20% down under the 28/36 rule, or about $202,579 with an FHA loan and 3.5% down, at this week's average 30-year rate of 7.32% (Freddie Mac, October 22, 2026). Lenders may approve up to about $383,389 with 20% down at a 45% debt-to-income ratio. Assumes 1.1% property tax and $2,000 insurance.
What mortgage payment can I afford on $70K a year?
About $1,633 a month for housing under the 28% rule, including taxes and insurance, if you have no other debts. FHA's 31% limit allows about $1,808.
Can I buy a house on $70K a year with an FHA loan?
Yes. With 3.5% down and no other debts, FHA's standard 31/43 limits support a price of about $202,579 at a 7.32% rate, with a down payment of about $7,090.
Does the down payment change how much house I can afford?
Yes. A bigger down payment lowers the loan amount and removes mortgage insurance at 20% down, so the same monthly budget buys a more expensive home.