How Much House Can You Afford With 20% Down?

A 20% down payment can increase your buying power and may eliminate private mortgage insurance (PMI), reducing your monthly payment.

If you are buying a home with 20% down, the price you can afford will depend on your income, monthly debts, credit profile, and current mortgage interest rates.

Example affordability with 20% down

Example household income: $200,000

Monthly income: $16,667

Recommended housing budget (28–36 rule):
$4,600 – $6,000 / month

Estimated home price range:
$750K – $1.05M

Use the calculator below to estimate your personalized monthly payment and see what home prices fit your budget.

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Affordability Estimate

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Example Affordability Scenarios

Home Price

Down Payment

Monthly Payment

$700,000

$900,000

$1,100,000

20%

~$3,800

~$4,900

~$6,000

A 20% down payment is often considered a benchmark for homebuyers because it can eliminate the need for private mortgage insurance (PMI). Avoiding PMI can significantly reduce monthly payments and increase overall affordability.

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