Can I afford a $500K house on a $100,000 salary?
Borderline. A $500K home with 20% down ($100,000) at 6.5% gives a mortgage P&I of $2,528/month — about 30% of your gross income just for principal and interest. Add property tax and insurance and you're at 35-40% of income, above the 28% comfort zone.
More context
Borderline. A $500K home with 20% down ($100,000) at 6.5% gives a mortgage P&I of $2,528/month — about 30% of your gross income just for principal and interest. Add property tax and insurance and you're at 35-40% of income, above the 28% comfort zone. 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.