What income is needed for a 300k mortgage

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Income Needed for a 400k Mortgage
That leaves us with a recommended income of $72, (Keep in mind that this does not include a down payment or closing costs.) In this article. Realistically, no. Based on what you've provided, you'll be spending more than 50% of your net income on the monthly mortgage payment, and. With a 5% down payment and an interest rate of % (the average at the time of writing), you will want to earn at least $6, per month �.

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For an FHA loan, the residence must be the primary place you will live. The displayed rates come from multiple providers and represent market averages. Other assumptions are the same as above. In reality, though, the maximum DTI ratio varies from lender to lender. See the full methodology at the end of this article.