| If you can't get a 300k loan with 70k income there's something else going on. Either you have no down payment, you have a large pre-existing debt, or you have some other monthly cash drain. at 70k annually you make ~5.8k a month. 36% debt to income ratio is normally acceptable, so you can afford 5.8 * .36 = 2.08k a month in payments. That's a 400k loan at 4.5% interest with a 30 year term. To be safe, and include insurance, taxes, other - you should be able to get a loan for 350k fairly easily. That you're capped at 175 implies you have some other form of monthly debt in the $1100 range. Child support? College loans? Other? --- I'll edit this to add: I don't personally recommend taking the maximum loan you qualify for. It's a good way hamstring your ability to continue to save and invest, and it makes it more likely that an abrupt job loss or change of financial circumstances puts you in a bad spot. |