Question: How Much Do I Need To Make To Afford A 350k House?

Example Required Income Levels at Various Home Loan Amounts

Home PriceDown PaymentLoan Amount
$250,000$50,000$200,000
$300,000$60,000$240,000
$350,000$70,000$280,000
$400,000$80,000$320,000

15 more rows

How much do I need to make to afford a 300k house?

How Much House Can You Afford?

Monthly Pre-Tax IncomeRemaining Income After Average Monthly Debt PaymentMaximum Monthly Mortgage Payment (including Property Taxes and Insurance) with the 36% Rule
$2,000$1,400$120
$3,000$2,400$480
$4,000$3,400$840
$5,000$4,400$1,200

5 more rows

How much do I need to make to buy a 400k house?

To afford a $400,000 house, for example, you need about $55,600 in cash if you put 10% down. With a 4.25% 30-year mortgage, your monthly income should be at least $8178 and (if your income is $8178) your monthly payments on existing debt should not exceed $981.

How much house can I afford if I make 350000?

This was the basic rule of thumb for many years. Simply take your gross income and multiply it by 2.5 or 3, to get the maximum value of the home you can afford. For somebody making $100,000 a year, the maximum purchase price on a new home should be somewhere between $250,000 and $300,000.

How much is a 350k mortgage per month?

What’s the monthly mortgage payment on a $350,000 house? Loan price for a $350,000 house with a 4.00% interest rate. Can I afford a $350,000 house?

$350,000 House at 4.00%

% DownDown PaymentIncome Required
50%$175,000$60,806

8 more rows