Income Needed for House Calculator

How much do you need to make to be able to afford a house?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $350,000 with a down payment of $70,000, you'd need to earn $60,802 per year before tax.
The monthly mortgage payment would be $1,419.

This page will calculate how much you need to make to be able to afford a house that costs a certain price.

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.