Can I afford a $600K house on a $150,000 salary?
Yes. A $600K home with 20% down at 6.5% has a mortgage P&I of $3,033/month, or 24% of gross monthly income. Add taxes/insurance and you're at 28-30% — within the 28/36 rule. You can stretch to $650-700K if your other debts are minimal.
More context
Yes. A $600K home with 20% down at 6.5% has a mortgage P&I of $3,033/month, or 24% of gross monthly income. Add taxes/insurance and you're at 28-30% — within the 28/36 rule. You can stretch to $650-700K if your other debts are minimal. 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.