Can I afford a $300K house on a $60,000 salary?
On a $60,000 salary, a $300,000 home is generally unaffordable using standard 28/36 lender ratios. The monthly mortgage payment alone would consume roughly 38% of your gross monthly income, and total housing costs (PITI) closer to 45%. Most lenders cap housing at 28-30%.
More context
On a $60,000 salary, a $300,000 home is generally unaffordable using standard 28/36 lender ratios. The monthly mortgage payment alone would consume roughly 38% of your gross monthly income, and total housing costs (PITI) closer to 45%. Most lenders cap housing at 28-30%. The exact answer depends on your specific situation — the numbers above are a strong starting point, but the right next step is to plug in your actual figures.
For a deeper analysis, use one of the related tools below — they take your specific income, debt, location, and goals as inputs and produce a tailored answer.