How Much House Can I Buy For 1500 A Month May 2026

If you target a total monthly payment of $1,500 (including principal, interest, taxes, and insurance):

The exact amount depends heavily on your down payment and the prevailing interest rates, which averaged for a 30-year fixed mortgage today according to the Bankrate Daily Survey . Estimated Home Price by Down Payment how much house can i buy for 1500 a month

Lenders often prefer that your total housing costs do not exceed 28% of your pre-tax income. If you target a total monthly payment of

You can afford roughly a $225,000 home.

Advantage: Putting 20% down typically eliminates the need for PMI. Income Requirements Advantage: Putting 20% down typically eliminates the need

Note: This includes Private Mortgage Insurance (PMI), which adds to your monthly cost.

For a monthly payment of , you can typically afford a home priced between $190,000 and $240,000 , assuming current market conditions as of April 28, 2026 .