Income to Afford a $295,000 House

How much do you need to make to be able to afford a house that costs $295,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $295,000 with a down payment of $59,000, you'd need to earn $51,248 per year before tax.
The monthly mortgage payment would be $1,196.

Salary needed for 295,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $295,000. It assumes a fixed-rate mortgage.

A good rule of thumb is to spend no more than 28% of your pre-tax income on your mortgage payment.

What is the income needed to buy a $295,000 house?
Down Payment 3.75% 4.00% 4.25% 4.50% 4.75% 5.00%
$0 $58,551 $60,359 $62,195 $64,059 $65,951 $67,870
$14,750 $55,623 $57,341 $59,085 $60,857 $62,654 $64,476
$29,500 $52,696 $54,323 $55,976 $57,654 $59,356 $61,083
$44,250 $49,768 $51,305 $52,866 $54,451 $56,058 $57,689
$59,000 $46,841 $48,287 $49,756 $51,248 $52,761 $54,296
$73,750 $43,913 $45,269 $46,646 $48,045 $49,463 $50,902
$88,500 $40,986 $42,251 $43,537 $44,842 $46,166 $47,509
$103,250 $38,058 $39,233 $40,427 $41,639 $42,868 $44,115
$118,000 $35,131 $36,215 $37,317 $38,436 $39,571 $40,722
$132,750 $32,203 $33,197 $34,207 $35,233 $36,273 $37,328
$147,500 $29,276 $30,179 $31,098 $32,030 $32,976 $33,935