Answer
With a $70,000 salary, your maximum mortgage depends on debts, credit score, down payment, interest rate, and local taxes and insurance. Using a common 28/36 or similar debt-to-income guideline, lenders often want housing costs under about 28–31% of gross income and total debts under around 36–45%.
For $70,000 in annual income, that might translate into a comfortable housing payment roughly in the $1,600–$2,000 per month range, assuming moderate other debts.
Why the range can vary a lot
- Other monthly debts: car loans, student loans, credit cards, child support, etc.
- Interest rate and term: small rate changes can move your payment by hundreds per month.
- Taxes and insurance: these can be a big swing factor depending on state, county, and property type.
- Down payment and PMI: lower down payments can add mortgage insurance to the monthly total.
A practical way to estimate your number
Instead of starting with “How big of a loan can I get?”, start with “What payment feels safe?” Then work backward to a loan amount based on today’s rates, your down payment, and realistic taxes/insurance.
Our mortgage payment calculator makes this easy: plug in a target payment, adjust the rate and term, and see the estimated loan amount and amortization breakdown.
Next step: check affordability from multiple angles
Approval and affordability aren’t always the same thing. For a clearer framework on budgeting, cash flow, and common affordability traps, visit: