Can I Afford a 301k House?

Use the calculator to see if you can afford a 301,000 home
$
$
%
%
years
*Financial advisors recommend purchasing a house where your monthly payment is approximately 28% of your total income.
Can I afford to buy a 301k House? How much do I need to make to buy a $301000 home or apartment? Use this calculator to estimate how much of a mortgage you can get. This is a very rough estimate and many more factors go into mortgage underwriting. The easiest way to determine how much home you can afford is to speak with a mortgage banker and get a preapproval for a mortgage.

This calculator starts with a fixed 30 year mortgage with current interest rates. Different loan lengths, such as a 15 year fixed, or a different APR will affect mortgage affordability.
Percentage of Income Spent for a $301,000 Home. 6.87% APR for 30 Years with a $60,200 Down Payment
Annual Income Monthly Payment % of Income Spent on Mortgage
20k Income 1,581.08 94.9%
21k Income 1,581.08 90.3%
22k Income 1,581.08 86.2%
23k Income 1,581.08 82.5%
24k Income 1,581.08 79.1%
25k Income 1,581.08 75.9%
26k Income 1,581.08 73.0%
27k Income 1,581.08 70.3%
28k Income 1,581.08 67.8%
29k Income 1,581.08 65.4%
30k Income 1,581.08 63.2%
31k Income 1,581.08 61.2%
32k Income 1,581.08 59.3%
33k Income 1,581.08 57.5%
34k Income 1,581.08 55.8%
35k Income 1,581.08 54.2%
36k Income 1,581.08 52.7%
37k Income 1,581.08 51.3%
38k Income 1,581.08 49.9%
39k Income 1,581.08 48.6%
40k Income 1,581.08 47.4%
41k Income 1,581.08 46.3%
42k Income 1,581.08 45.2%
43k Income 1,581.08 44.1%
44k Income 1,581.08 43.1%
45k Income 1,581.08 42.2%
46k Income 1,581.08 41.2%
47k Income 1,581.08 40.4%
48k Income 1,581.08 39.5%
49k Income 1,581.08 38.7%
50k Income 1,581.08 37.9%
51k Income 1,581.08 37.2%
52k Income 1,581.08 36.5%
53k Income 1,581.08 35.8%
54k Income 1,581.08 35.1%
55k Income 1,581.08 34.5%
56k Income 1,581.08 33.9%
57k Income 1,581.08 33.3%
58k Income 1,581.08 32.7%
59k Income 1,581.08 32.2%
60k Income 1,581.08 31.6%
61k Income 1,581.08 31.1%
62k Income 1,581.08 30.6%
63k Income 1,581.08 30.1%
64k Income 1,581.08 29.6%
65k Income 1,581.08 29.2%
66k Income 1,581.08 28.7%
67k Income 1,581.08 28.3%
68k Income 1,581.08 27.9%
69k Income 1,581.08 27.5%
70k Income 1,581.08 27.1%
71k Income 1,581.08 26.7%
72k Income 1,581.08 26.4%
73k Income 1,581.08 26.0%
74k Income 1,581.08 25.6%
75k Income 1,581.08 25.3%
76k Income 1,581.08 25.0%
77k Income 1,581.08 24.6%
78k Income 1,581.08 24.3%
79k Income 1,581.08 24.0%
80k Income 1,581.08 23.7%
81k Income 1,581.08 23.4%
82k Income 1,581.08 23.1%
83k Income 1,581.08 22.9%
84k Income 1,581.08 22.6%
85k Income 1,581.08 22.3%
86k Income 1,581.08 22.1%
87k Income 1,581.08 21.8%
88k Income 1,581.08 21.6%
89k Income 1,581.08 21.3%
90k Income 1,581.08 21.1%
91k Income 1,581.08 20.8%
92k Income 1,581.08 20.6%
93k Income 1,581.08 20.4%
94k Income 1,581.08 20.2%
95k Income 1,581.08 20.0%
96k Income 1,581.08 19.8%
97k Income 1,581.08 19.6%
98k Income 1,581.08 19.4%
99k Income 1,581.08 19.2%
100k Income 1,581.08 19.0%
101k Income 1,581.08 18.8%
102k Income 1,581.08 18.6%
103k Income 1,581.08 18.4%
104k Income 1,581.08 18.2%
105k Income 1,581.08 18.1%
106k Income 1,581.08 17.9%
107k Income 1,581.08 17.7%
108k Income 1,581.08 17.6%
109k Income 1,581.08 17.4%
110k Income 1,581.08 17.2%
Annual Income Monthly Payment % of Income Spent on Mortgage
111k Income 1,581.08 17.1%
112k Income 1,581.08 16.9%
113k Income 1,581.08 16.8%
114k Income 1,581.08 16.6%
115k Income 1,581.08 16.5%
116k Income 1,581.08 16.4%
117k Income 1,581.08 16.2%
118k Income 1,581.08 16.1%
119k Income 1,581.08 15.9%
120k Income 1,581.08 15.8%
121k Income 1,581.08 15.7%
122k Income 1,581.08 15.6%
123k Income 1,581.08 15.4%
124k Income 1,581.08 15.3%
125k Income 1,581.08 15.2%
126k Income 1,581.08 15.1%
127k Income 1,581.08 14.9%
128k Income 1,581.08 14.8%
129k Income 1,581.08 14.7%
130k Income 1,581.08 14.6%
131k Income 1,581.08 14.5%
132k Income 1,581.08 14.4%
133k Income 1,581.08 14.3%
134k Income 1,581.08 14.2%
135k Income 1,581.08 14.1%
136k Income 1,581.08 14.0%
137k Income 1,581.08 13.8%
138k Income 1,581.08 13.7%
139k Income 1,581.08 13.6%
140k Income 1,581.08 13.6%
141k Income 1,581.08 13.5%
142k Income 1,581.08 13.4%
143k Income 1,581.08 13.3%
144k Income 1,581.08 13.2%
145k Income 1,581.08 13.1%
146k Income 1,581.08 13.0%
147k Income 1,581.08 12.9%
148k Income 1,581.08 12.8%
149k Income 1,581.08 12.7%
150k Income 1,581.08 12.6%
151k Income 1,581.08 12.6%
152k Income 1,581.08 12.5%
153k Income 1,581.08 12.4%
154k Income 1,581.08 12.3%
155k Income 1,581.08 12.2%
156k Income 1,581.08 12.2%
157k Income 1,581.08 12.1%
158k Income 1,581.08 12.0%
159k Income 1,581.08 11.9%
160k Income 1,581.08 11.9%
161k Income 1,581.08 11.8%
162k Income 1,581.08 11.7%
163k Income 1,581.08 11.6%
164k Income 1,581.08 11.6%
165k Income 1,581.08 11.5%
166k Income 1,581.08 11.4%
167k Income 1,581.08 11.4%
168k Income 1,581.08 11.3%
169k Income 1,581.08 11.2%
170k Income 1,581.08 11.2%
171k Income 1,581.08 11.1%
172k Income 1,581.08 11.0%
173k Income 1,581.08 11.0%
174k Income 1,581.08 10.9%
175k Income 1,581.08 10.8%
176k Income 1,581.08 10.8%
177k Income 1,581.08 10.7%
178k Income 1,581.08 10.7%
179k Income 1,581.08 10.6%
180k Income 1,581.08 10.5%
181k Income 1,581.08 10.5%
182k Income 1,581.08 10.4%
183k Income 1,581.08 10.4%
184k Income 1,581.08 10.3%
185k Income 1,581.08 10.3%
186k Income 1,581.08 10.2%
187k Income 1,581.08 10.1%
188k Income 1,581.08 10.1%
189k Income 1,581.08 10.0%
190k Income 1,581.08 10.0%
191k Income 1,581.08 9.9%
192k Income 1,581.08 9.9%
193k Income 1,581.08 9.8%
194k Income 1,581.08 9.8%
195k Income 1,581.08 9.7%
196k Income 1,581.08 9.7%
197k Income 1,581.08 9.6%
198k Income 1,581.08 9.6%
199k Income 1,581.08 9.5%
200k Income 1,581.08 9.5%
201k Income 1,581.08 9.4%