Income Needed for House Calculator
How much do you need to make to be able to afford a house that costs a certain price with a fixed-rate mortgage?
Pct of income
Term of loan
To afford a house that costs $350,000 with a down payment of $70,000, you'd need to earn $75,848 per year before tax.
The mortgage payment would be $1,770 / month.
Note: This calculator is for fixed-rate mortgages. Adjustable-rate mortgages, or ARMs, may allow you to acheive lower payments in the short term. However, with ARMs, your monthly payment may increase if interest rates rise.
Note: 28% is the standard percentage of pre-tax income to spend on housing.