Suppose you wanted to buy a house and you wanted to determine what you can afford to pay for the house. Use the following values and the home affordability calculator to determine what price you can afford to pay. gross annual income: $200,000 down payment amount: $20,000 debt-to-income: 36% monthly debt:$3,500 mortgage rate: 6% loan term: 360 months annual property taxes: $4,750 annual homeowners insurance: $522 no private mortgage insurance (PMI)