Income to Afford a $30,000 House

How much do you need to make to be able to afford a house that costs $30,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $30,000 with a down payment of $6,000, you'd need to earn $5,212 per year before tax.
The monthly mortgage payment would be $122.

Salary needed for 30,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $30,000. 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 $30,000 house?
Down Payment 3.75% 4.00% 4.25% 4.50% 4.75% 5.00%
$0 $5,954 $6,138 $6,325 $6,515 $6,707 $6,902
$1,500 $5,657 $5,831 $6,009 $6,189 $6,372 $6,557
$3,000 $5,359 $5,524 $5,692 $5,863 $6,036 $6,212
$4,500 $5,061 $5,217 $5,376 $5,537 $5,701 $5,867
$6,000 $4,763 $4,911 $5,060 $5,212 $5,366 $5,522
$7,500 $4,466 $4,604 $4,744 $4,886 $5,030 $5,176
$9,000 $4,168 $4,297 $4,427 $4,560 $4,695 $4,831
$10,500 $3,870 $3,990 $4,111 $4,234 $4,359 $4,486
$12,000 $3,573 $3,683 $3,795 $3,909 $4,024 $4,141
$13,500 $3,275 $3,376 $3,479 $3,583 $3,689 $3,796
$15,000 $2,977 $3,069 $3,162 $3,257 $3,353 $3,451