What salary do you need for a $1 million mortgage?
To comfortably afford a $1 million mortgage (P&I ~$6,320/month at 6.5%), you typically need an annual salary of $250,000–$300,000. Lenders will approve at $200,000+ with excellent credit, but the monthly payment will consume 30%+ of gross income.
More context
To comfortably afford a $1 million mortgage (P&I ~$6,320/month at 6.5%), you typically need an annual salary of $250,000–$300,000. Lenders will approve at $200,000+ with excellent credit, but the monthly payment will consume 30%+ of gross income. 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.