Income to Afford a $55,000 House

How much do you need to make to be able to afford a house that costs $55,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $55,000 with a down payment of $11,000, you'd need to earn $9,555 per year before tax.
The monthly mortgage payment would be $223.

Salary needed for 55,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $55,000. 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 $55,000 house?
Down Payment 3.75% 4.00% 4.25% 4.50% 4.75% 5.00%
$0 $10,916 $11,253 $11,596 $11,943 $12,296 $12,654
$2,750 $10,370 $10,691 $11,016 $11,346 $11,681 $12,021
$5,500 $9,825 $10,128 $10,436 $10,749 $11,066 $11,388
$8,250 $9,279 $9,565 $9,856 $10,152 $10,452 $10,756
$11,000 $8,733 $9,003 $9,277 $9,555 $9,837 $10,123
$13,750 $8,187 $8,440 $8,697 $8,957 $9,222 $9,490
$16,500 $7,641 $7,877 $8,117 $8,360 $8,607 $8,858
$19,250 $7,096 $7,315 $7,537 $7,763 $7,992 $8,225
$22,000 $6,550 $6,752 $6,957 $7,166 $7,378 $7,592
$24,750 $6,004 $6,189 $6,378 $6,569 $6,763 $6,960
$27,500 $5,458 $5,627 $5,798 $5,972 $6,148 $6,327