How much house can I afford on $150k income? (married)

Maya & Devin earn $150,000 a year and have $66,000 saved in liquid accounts, which sounds like enough to buy in Austin. It isn't, not yet, and the math explains exactly why the number that matters most isn't their income.

Wait 2 years and your $600,000 target becomes reachable

Their $66,000 in liquid savings is the binding constraint, not what a lender will approve. Today that cash supports a $360,000 home once you hold back the reserves needed after closing. But in two years, the engine projects they can reach a $605,000 home, a $245,000 increase, because the reserve math shifts dramatically once their savings cross the threshold that covers both a meaningful down payment and six months of post-purchase costs.

Your max home today is $360,000. By waiting 2 years, your max grows to $605,000, an additional $245,000 in buying power from savings and income growth.

Your max price is usually limited by CASH, not by what a lender would approve. We hold back $37,102 as a 6-month reserve, and require 5% down, so that cash cannot go toward the purchase. A lender would often approve more. This scenario carries mortgage insurance of about $242/mo, which is included in the payment and drops off at 20% equity. Programs like FHA allow smaller down payments and would raise these figures, but they add premiums we do not model, so we stay deliberately conservative. Home ownership also involves lifestyle factors no spreadsheet captures.

Run your own numbers and find out exactly which year your target price becomes reachable, because for most buyers it's the savings floor, not the salary, that moves the date.

For educational purposes only, not financial advice.