- How much mortgage can I afford if I make $100 000 a year?
- How much income do I need for a 100k mortgage?
- How much income do I need for a 400k mortgage?
- How much house can I afford if I make 120000 a year?
- Is 150k a good salary?
- How much house can I afford on 150k salary?
- What kind of mortgage can I afford on my salary?
- How much do you have to make a year to afford a $500000 house?
- How much house can you afford if you make 60000 a year?

Your maximum mortgage payment (rule of 28)

The golden rule in determining how much home you can afford is that your monthly mortgage payment should not exceed 28 percent of your gross monthly income (your income before taxes are taken out).

## How much mortgage can I afford if I make $100 000 a year?

Some experts suggest that you can afford a mortgage payment as high as 28% of your gross income. If true, a couple who earn a combined annual salary of $100,000 can afford a monthly payment of about $2,300/month. That could translate to a $450,000 loan, assuming a 4.5% 30-year fixed rate.

## How much income do I need for a 100k mortgage?

A good rule of thumb is 31% gross monthly for mortgage (with escrow) and no more than 40% of monthly gross for housing + other consumer debt payments. Just go to a mortgage calulator (bankrate.com) and figure the payment on 100K with rate quoted from your lender.

## How much income do I need for a 400k mortgage?

To afford a $400,000 house, for example, you need about $55,600 in cash if you put 10% down. With a 4.25% 30-year mortgage, your monthly income should be at least $8178 and (if your income is $8178) your monthly payments on existing debt should not exceed $981.

## How much house can I afford if I make 120000 a year?

So start by doing the math. If you make $50,000 a year, your total yearly housing costs should ideally be no more than $14,000, or $1,167 a month. If you make $120,000 a year, you can go up to $33,600 a year, or $2,800 a month—as long as your other debts don’t push you beyond the 36 percent mark.

## Is 150k a good salary?

The answer, at least according to a new survey of Americans by WSL/Strategic Retail, is $150,000. That level of income is more than three times the national median of $49,445 for 2010, and it’s enough to put a household into the top 10 percent nationally.

## How much house can I afford on 150k salary?

Your maximum mortgage payment (rule of 28)

The golden rule in determining how much home you can afford is that your monthly mortgage payment should not exceed 28 percent of your gross monthly income (your income before taxes are taken out).

## What kind of mortgage can I afford on my salary?

Affordability 101

To determine ‘how much house can I afford,’ use the 36% rule, which states your monthly mortgage expenses and other debt payments shouldn’t exceed 36% of your gross monthly income. Income – Money that you receive on a regular basis, such as your salary or income from investments.

## How much do you have to make a year to afford a $500000 house?

A generally accepted rule of thumb is that your mortgage shouldn’t be more than three times your annual income. So if you make $165,000 in household income, a $500,000 house is the very most you should get.

## How much house can you afford if you make 60000 a year?

The usual rule of thumb is that you can afford a mortgage two to 2.5 times your annual income. That’s a $120,000 to $150,000 mortgage at $60,000. You also have to be able to afford the monthly mortgage payments, however.