See how much house you can afford as a first-time buyer using the 28/36 debt-to-income rule lenders apply. Enter your income, debts, and savings to find your maximum price. For step-by-step buying guidance, see the CFPB's Owning a Home guide and HUD's buying a home resources.
Lenders generally cap housing at 28% of gross monthly income and total debt at 36%. Enter your income, monthly debts, and down payment savings to see the maximum price those ratios support.
Many first-time buyers use low-down-payment programs (FHA, USDA, VA) and state or local down-payment assistance. HUD and the CFPB maintain free, unbiased guides — start there before working with a lender.
It varies: conventional loans can go as low as 3%, FHA as low as 3.5%, and VA or USDA as low as 0% for eligible buyers. A larger down payment lowers your payment and can remove PMI.