Whether you are combining salaries with a partner, taking on side hustles, or using a W-2, your total household income determines your buying power. Here's what lenders realistically require for a $600k property.
Realistic approval range: ~$169,000 to ~$195,800 combined income
Lenders will typically approve a $600,000 home for buyers earning between ~$169,000 (assuming 20% down and zero debt) and ~$195,800 (assuming 10% down and average debt). The exact income required depends heavily on your existing DTI ratio.
You can afford a home around
$600,000
Based on your current income, debt, and housing cost assumptions.
Monthly Housing Budget
$3,890
This appears to be within a comfortable borrowing range.
Estimated Loan Amount
$480,000
Estimated Cash Needed (Down + Closing)
$138,000
Estimates based on your inputs. Actual results may vary. Terms →
Keep track of multiple affordability setups.
| Down Payment | Loan Amount | Est. Monthly Payment | Income Needed (28%) |
|---|---|---|---|
| 3.5% FHA ($21k) | $579k | ~$4,843/mo | ~$207,600/yr |
| 5% ($30k) | $570k | ~$4,780/mo | ~$204,800/yr |
| 10% ($60k) | $540k | ~$4,568/mo | ~$195,800/yr |
| 20% ($120k) | $480k | ~$3,943/mo | ~$169,000/yrBest |
Estimates include P&I, ~1.2% property tax, $150/mo insurance. PMI added under 20% down.
This is the most straightforward income. Lenders use your gross base salary before taxes or deductions. If you make $169,000/yr on paper from your employer, that perfectly covers the 28% front-end threshold for a $600k house with 20% down.
If you apply with a co-borrower, your incomes are pooled. A married or partner couple earning $90,000 each has a combined household income of $180,000, which is enough to comfortably buy a $600,000 house even with a slightly lower down payment. Both credit scores will be checked.
Unlike base salary, lenders usually average variable income (freelance, commissions, OT) over the last two years. If your income fluctuates, be prepared to show tax returns, not just recent pay stubs, to prove sustained earnings.
How Other Debts Impact Your Income Requirements
Lenders evaluate your total Debt-to-Income (DTI) ratio. If you have a $700/month car payment, that $700 subtracts directly from what you can afford in a house payment. To afford a $600k house with existing debt, your income must be significantly higher than the baseline $169,000 to absorb the other bills.
Estimates based on your inputs. Actual results may vary. Terms →