# What salary do I need for a \$500000 house?

A good rule of thumb is that the maximum cost of your house should be no more than 5 to 3 times your total annual income. This means that if you want to purchase a \$500K home or qualify for a \$500K mortgage, your minimum salary should fall between \$165K and \$200K.
So, if you’re looking at homes that cost more than \$500K, you’ll need to have an annual income of at least \$165K in order to qualify for a mortgage.
On the other hand, if you’re only looking at homes that cost \$500K or less, you’ll need an annual income of \$200K in order to qualify for a mortgage.

## What salary can afford a 200K house?

You will need an approximate income of \$62,000 annually to be approved for a \$200,000 mortgage with a minimum down payment of 5 percent. (This is an estimated example.)

## How much is a \$300000 house per month?

At a 4% fixed interest rate, your monthly mortgage payment on a 30-year mortgage might total \$1,4325 a month.

On a 15-year mortgage, your monthly payments might total \$2,2106 a month.

These estimates are based on a \$300,000 mortgage.

Your actual monthly payments may be different, depending on the interest rate, the term of your mortgage, and other factors.

## What mortgage can I get with 70k salary?

On a \$70,000 income, you’ll probably qualify for a home loan between \$250,000 and \$400,000. The exact number will vary depending on your lender, the area you live in, and how much debt you have.

## What income do you need for a \$800000 mortgage?

How much do you need to make to be able to afford a house that costs \$800,000?
To afford a house that costs \$800,000 with a down payment of \$160,000, you’d need to earn \$119,371 per year before tax.
The monthly mortgage payment would be \$2,78
Salary needed for 800,000 dollar mortgage.