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 do you need to make to afford a 300k house?

The oldest rule of thumb says you can typically afford a home priced two to three times your gross income. So, if you earn $100,000, you can typically afford a home between $200,000 and $300,000.

## How much income do you need for a 400000 house?

To afford a house that costs $400,000 with a down payment of $80,000, you’d need to earn $69,488 per year before tax. The monthly mortgage payment would be $1,621. Salary needed for 400,000 dollar mortgage.

## What is the monthly payment on a 400k mortgage?

Mortgage Loan of $400,000 for 30 years at 3.25%

Month | Monthly Payment | Principal Paid |
---|---|---|

1 | 1,740.83 | 657.49 |

2 | 1,740.83 | 659.27 |

3 | 1,740.83 | 661.06 |

4 | 1,740.83 | 662.85 |

93 more rows

## How much do I need to make to buy a 500k house?

A generally accepted rule of thumb is that your mortgage shouldn’t be more than three times your annual income. So if you make $165,000 in household income, a $500,000 house is the very most you should get.