{"id":49268,"date":"2021-03-10T08:59:36","date_gmt":"2021-03-10T16:59:36","guid":{"rendered":"https:\/\/www.credible.com\/blog\/?p=49268"},"modified":"2023-02-17T12:53:32","modified_gmt":"2023-02-17T20:53:32","slug":"how-much-income-do-you-need-to-buy-a-house","status":"publish","type":"post","link":"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/","title":{"rendered":"How Much Income Do You Need to Buy a House?"},"content":{"rendered":"<p>When you apply for a mortgage, your lender wants to be sure you can repay the money. Income is a big factor that helps your mortgage lender make its decision \u2014 but you don\u2019t have to be a high-earner to qualify for a home loan.<\/p>\n<p>The lender will check your overall financial standing and look at the cost of the home you want to buy.<\/p>\n<p><b>Here\u2019s how your income can affect what mortgage you get:<\/b><\/p>\n<ul>\n<li><a href=\"#income-requirements-loan\">Income requirements for a home loan<\/a><\/li>\n<li><a href=\"#how-proof-income\">How to show proof of income<\/a><\/li>\n<li><a href=\"#other-eligibility-factors\">Other mortgage eligibility factors<\/a><\/li>\n<\/ul>\n<p><a name=\"income-requirements-loan\"><\/a><\/p>\n<h2>Income requirements for a home loan<\/h2>\n<p>There\u2019s no universal income requirement to <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/mortgage-qualifications\/\">qualify for a mortgage<\/a>. Instead, the lender:<\/p>\n<ul>\n<li><b>Verifies you earn enough<\/b> to pay for a specific home<\/li>\n<li><b>Reviews your outstanding debts<\/b> to see if you can take on a mortgage payment<\/li>\n<li><b>Checks your credit<\/b> to see how you\u2019ve managed debt in the past<\/li>\n<li><b>Estimates your housing costs<\/b> to see how they can fit into your budget<\/li>\n<\/ul>\n<p>Next, the lender will determine whether you qualify for the <a href=\"https:\/\/www.credible.com\/mortgage\">home loan<\/a>. Most lenders follow mortgage income requirements set by Fannie Mae and Freddie Mac during the <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/underwriting-process\/\">underwriting process<\/a>, but they have the discretion to set their own, too.<\/p>\n<p>If you\u2019re considering a home purchase, be sure to shop around for the best home loan. Credible makes this easy \u2014 you can compare all of our partner lenders in minutes.<\/p>\n<p><div class=\"basic-box\" style=\"border: 1px solid #E2E4E6;\"><div class=\"basic-box__inside\"><\/p>\n<h3><span style=\"font-size: x-large;\"><strong>Credible makes finding a mortgage easy<\/strong><\/span><\/h3>\n<h6 class=\"accent--isGrayLight\">Compare prequalified mortgage rates from top lenders in just 3 minutes.<\/h6>\n<ul class=\"list--iconArrow accent--isGreen list--iconCheckmarkSolidCircle\">\n<li>Personalized rates, not generic<\/li>\n<li>One simple, safe TLS-encrypted form<\/li>\n<li>No spam calls from lenders<\/li>\n<li>Checking rates is free, with no commitment<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><a class=\"btn btn-warning\" href=\"https:\/\/www.credible.com\/mortgage\/form\/property-stage?utm_source=wp-credible&amp;utm_medium=mp-box-cta&amp;utm_campaign=seo\" target=\"_blank\" rel=\"noopener\">Find My Rate<\/a><br \/>\n<!-- TrustBox widget - Micro Combo --><\/p>\n<div class=\"trustpilot-widget\" data-locale=\"en-US\" data-template-id=\"5419b6ffb0d04a076446a9af\" data-businessunit-id=\"5536ec090000ff00057eebe7\" data-style-height=\"20px\" data-style-width=\"100%\" data-theme=\"light\"><a href=\"https:\/\/www.trustpilot.com\/review\/www.credible.com\" target=\"_blank\" rel=\"noopener noreferrer\">Trustpilot<\/a><\/div>\n<p><!-- End TrustBox widget --><\/p>\n<p><\/div><\/div><\/p>\n\n<h3>Debt-to-income requirements<\/h3>\n<p>Income itself might not provide a full picture of your financial health, so lenders also consider your <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/dti-for-mortgage\/\">debt-to-income ratio<\/a>. This number measures how much of your monthly income goes toward debt payments and helps the lender figure out whether you can comfortably take on more debt.<\/p>\n<p>There are two types of DTI ratios lenders consider when reviewing a mortgage application:<\/p>\n<ul>\n<li><b>Back-end DTI: <\/b>This takes into account all of your debts, including your estimated mortgage payment, and is the ratio most widely used by lenders.<\/li>\n<li><b>Front-end DTI: <\/b>This only includes your housing costs, such as your new mortgage payment, taxes, and insurance.<\/li>\n<\/ul>\n<div class=\"basic-box\" style=\"border: 1px solid #E2E4E6;\"><div class=\"basic-box__inside\"><b>Tip: <\/b>A higher DTI indicates you have more debt relative to your income and vice versa. The DTI requirements vary with every lender and mortgage program, but lenders typically look for a back-end DTI below 45% and a front-end ratio below 28%.<\/div><\/div>\n\n<table id=\"tablepress-317\" class=\"tablepress tablepress-id-317 table table-border-top table-rounded table-no-img-margin table-capitalized-column-titles\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><strong>Loan type<\/strong><\/th><th class=\"column-2\"><strong>Front-end DTI<\/strong><\/th><th class=\"column-3\"><strong>Back-end DTI<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong>FHA<\/strong><\/td><td class=\"column-2\">31% to 33%<\/td><td class=\"column-3\">43% to 45%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong>USDA<\/strong><\/td><td class=\"column-2\">29%<\/td><td class=\"column-3\">41%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong>VA<\/strong><\/td><td class=\"column-2\">N\/A<\/td><td class=\"column-3\">41%<br \/>\n<small>(but lenders are free to go higher)<\/small><\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong>Conventional<\/strong><\/td><td class=\"column-2\">36%<\/td><td class=\"column-3\">45%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<a name=\"how-proof-income\"><\/a><\/p>\n<p><em><strong>Find Out: <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/types-of-home-to-buy\/\">What Kind of House Should I Buy? How to Pick the Perfect Home<\/a><\/strong><\/em><\/p>\n<h2>How to show proof of income<\/h2>\n<p>When applying for a home loan, it helps to know what income can be used to qualify for a mortgage and the documents you need.<\/p>\n<p>Most lenders follow <a href=\"https:\/\/selling-guide.fanniemae.com\/Selling-Guide\/Origination-thru-Closing\/Subpart-B3-Underwriting-Borrowers\/Chapter-B3-3-Income-Assessment\/Section-B3-3-5-DU-Requirements-for-Income-Assessment\/1032994291\/B3-3-5-01-Income-and-Employment-Documentation-for-DU-12-16-2020.htm\" rel=\"\u201cnofollow\u201d\">Fannie Mae<\/a> and Freddie Mac\u2019s income-verification guidance \u2014 and if you received a pre-approval, you probably gathered most of these <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/mortgage-preapproval-documents\/\">required documents<\/a> already.<\/p>\n<p>Here\u2019s what you need as proof of income for the mortgage approval:<\/p>\n<h3>Employment income<\/h3>\n<p>If you work for someone else, it should be relatively easy to document the income required for a mortgage.<\/p>\n<p>But even if you don\u2019t work a normal 9-to-5 gig \u2014 like <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/self-employed-home-loan\/\">self-employed workers<\/a> \u2014 there are other ways to meet the income requirements for a mortgage. Here are some examples:<\/p>\n\n<table id=\"tablepress-617\" class=\"tablepress tablepress-id-617 table table-border-top table-rounded table-no-img-margin table-capitalized-column-titles\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><strong>Type of income<\/strong><\/th><th class=\"column-2\"><strong>Documents needed<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong>Salary or hourly pay<\/strong><\/td><td class=\"column-2\">Form 1005 or your most recent pay stub and W-2 forms covering the most recent one-year period.<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong>Bonus and overtime pay<\/strong><\/td><td class=\"column-2\">Form 1005 or your most recent pay stub and W-2 forms covering the most recent two-year period.<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong>Commissions<\/strong><\/td><td class=\"column-2\">Form 1005 or your most recent pay stub and W-2 forms covering the most recent two-year period.<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong>Second job income<\/strong><\/td><td class=\"column-2\">Your most recent pay stub and W-2 forms covering the most recent two-year period.<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\"><strong>Self-employment income<\/strong><\/td><td class=\"column-2\">One to two years\u2019 worth of personal tax returns, potentially two years\u2019 worth of business tax returns, and Fannie Mae\u2019s <a href=\"https:\/\/singlefamily.fanniemae.com\/media\/7746\/display\" rel=\u201cnofollow\u201d>Form 1084<\/a>.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<h3>Other forms of income<\/h3>\n<p>Homebuyers can also use <a href=\"https:\/\/selling-guide.fanniemae.com\/Selling-Guide\/Origination-thru-Closing\/Subpart-B3-Underwriting-Borrowers\/Chapter-B3-3-Income-Assessment\/Section-B3-3-1-Employment-and-Other-Sources-of-Income\/1035647451\/B3-3-1-09-Other-Sources-of-Income-12-16-2020.htm\" rel=\"\u201cnofollow\u201d\">non-employment income<\/a> to apply for a mortgage. Here are some alternative ways to prove you have the income to qualify for a mortgage, along with examples of acceptable documentation:<\/p>\n<ul>\n<li><b>Alimony or child support: <\/b>You\u2019ll need to produce a copy of a divorce decree or separation agreement that shows the monthly payment amount and describes the payment terms. Lenders will check that you\u2019ve received these payments for at least six months.<\/li>\n<li><b>Capital gains: <\/b>You\u2019ll need to provide two years\u2019 worth of federal income tax returns with Schedule D.<\/li>\n<li><b>Long-term disability:<\/b> You\u2019ll have to show a copy of the policy from whoever is paying the benefits, such as an insurance company or employer. The document should include the amount and frequency of the disability payments and an end date, if applicable.<\/li>\n<li><b>Interest and dividends:<\/b> You\u2019ll need to provide two years\u2019 worth of federal income tax returns that document the income, or copies of account statements for the asset.<\/li>\n<li><b>Retirement and pension income: <\/b>This can be in the form of a retirement award letter, financial or bank account statement, a federal income tax return, a W-2 form, or a 1099 form.<\/li>\n<li><b>Royalty payments: <\/b>This can be a copy of the royalty contract, agreement, or statement that shows how much you receive and how often. You\u2019ll also need to provide your most recent federal income tax return with Schedule E.<\/li>\n<li><b>Schedule K-1 income:<\/b> You\u2019ll need to provide two years\u2019 worth of your most recent federal income tax returns with Schedule K-1.<\/li>\n<li><b>Social Security payments:<\/b> You must show an award letter from the Social Security Administration, or current receipts of payment.<\/li>\n<\/ul>\n<p><a name=\"other-eligibility-factors\"><\/a><\/p>\n<h2>Other mortgage eligibility factors<\/h2>\n<p>Income and DTI aren\u2019t the only factors that determine your eligibility for a home loan. <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/how-to-find-best-mortgage-lenders\/\">Mortgage lenders<\/a> will also look at your credit score and down payment before deciding to approve you.<\/p>\n<h3>Credit score<\/h3>\n<p>Your <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/how-credit-score-impacts-mortgage-rate\/\">credit score<\/a> plays a large role in whether you qualify for a mortgage \u2014 and your interest rate \u2014 because it helps lenders predict whether you\u2019ll repay the loan as agreed. Credit score requirements vary by lender and <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/types-of-mortgage-loans\/\">mortgage program<\/a>.<\/p>\n\n<table id=\"tablepress-616\" class=\"tablepress tablepress-id-616 table table-border-top table-rounded table-no-img-margin table-capitalized-column-titles\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><strong>Loan type<\/strong><\/th><th class=\"column-2\"><strong>Min. credit score<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong>Conventional<\/strong><\/td><td class=\"column-2\">620<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong>FHA<\/strong><\/td><td class=\"column-2\">500 or 580<br \/>\r\n<small>(depending on your down payment)<\/small><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\"><strong>VA<\/strong><\/td><td class=\"column-2\">No minimum<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><strong>USDA<\/strong><\/td><td class=\"column-2\">No minimum<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<p><b><i>Learn More: <\/i><\/b><a href=\"https:\/\/www.credible.com\/blog\/mortgages\/credit-score-for-home-loan\/\"><b><i>Credit Score Needed to Get a Home Loan<\/i><\/b><\/a><\/p>\n<h3>Down payment<\/h3>\n<p>A <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/how-much-down-payment\/\">down payment<\/a> is the money you put toward your house upfront. Generally, a larger down payment helps you build equity faster, lower your mortgage payment, and potentially qualify for a lower interest rate.<\/p>\n<p>Down payment requirements vary by mortgage program. If you can afford to put down 20%, then you\u2019ll avoid paying <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/mortgage-insurance\/\">private mortgage insurance<\/a>, or PMI. But it\u2019s OK to put down less. In fact, the median down payment was 12% for all buyers, according to the most recent data from the <a href=\"https:\/\/www.nar.realtor\/sites\/default\/files\/documents\/2020-downpayment-expectations-and-hurdles-to-homeownership-report-04-16-2020.pdf\" rel=\"\u201cnofollow\u201d\">National Association of Realtors<\/a>.<\/p>\n<p>When shopping for a mortgage, it helps to know how much you can expect to pay over the life of the loan. Enter your loan amount and interest rate into our mortgage calculator to determine what you&#8217;ll pay monthly and over the life of the loan.<\/p>\n<div id=\"credible-rate-table\">\n<div class=\"calculator loan\">\n<div class=\"inputs container\">\n\n\t<p>Enter your loan information<span class=\"hidden-md-up\"> to calculate how much you could pay<\/span><\/p>\n\n  <div class=\"row form-groups\">\n  <div class=\"col-xs-8 col-lg\">\n    <div class=\"form-group\">\n  \t\t<label for=\"loan-amount\">Loan amount<\/label>\n  \t\t<span class=\"badge badge-pill\" data-toggle=\"tip\" data-placement=\"top left\">\n  \t\t\t?\t<span class=\"tip \">\n\t\t<span class=\"tip-content\">Enter the total amount borrowed<\/span>\n\t\t<span class=\"tip-arrow\"><\/span>\n\t<\/span>\n\t  \t\t<\/span>\n  \t\t<span class=\"input-group loan-amount\">\n  \t\t\t<span class=\"input-group-addon\">$<\/span>\n  \t\t\t<input type=\"number\" value=\"250000\" step=\"1000\" name=\"loan-amount\" id=\"loan-amount\" aria-label=\"Loan amount\" class=\"form-control\" inputmode=\"numeric\" pattern=\"[0-9]*\">\n  \t\t<\/span>\n    <\/div>\n  <\/div>\n  <div class=\"col-xs-6 col-lg\">\n    <div class=\"form-group\">\n  \t\t<label for=\"interest-rate\">Interest rate<\/label>\n  \t\t<span class=\"badge badge-pill\" data-toggle=\"tip\" data-placement=\"top left\">\n  \t\t\t?\t<span class=\"tip \">\n\t\t<span class=\"tip-content\">Enter your annual interest rate<\/span>\n\t\t<span class=\"tip-arrow\"><\/span>\n\t<\/span>\n\t  \t\t<\/span>\n  \t\t<span class=\"input-group interest-rate\">\n  \t\t\t<input type=\"number\" value=\"6\" step=\".01\" min=\".01\" max=\"100\" name=\"interest-rate\" id=\"interest-rate\" aria-label=\"Interest rate\" class=\"form-control\">\n  \t\t\t<span class=\"input-group-addon\">%<\/span>\n  \t\t<\/span>\n    <\/div>\n\t\t<span class=\"between\">or<\/span>\n  <\/div>\n  <div class=\"col-xs-6 col-lg\">\n    <div class=\"form-group\">\n  \t\t<label for=\"loan-term\">Fixed loan term<\/label>\n  \t\t<span class=\"badge badge-pill\" data-toggle=\"tip\" data-placement=\"top left\">\n  \t\t\t?\t<span class=\"tip \">\n\t\t<span class=\"tip-content\">Enter the amount of time you have to repay your loan<\/span>\n\t\t<span class=\"tip-arrow\"><\/span>\n\t<\/span>\n\t  \t\t<\/span>\n  \t\t<span class=\"input-group loan-term\">\n  \t\t\t<input name=\"loan-term\" value=\"30\" step=\"1\" min=\"1\" max=\"50\" id=\"loan-term\" aria-label=\"Loan term\" type=\"number\" class=\"form-control\" inputmode=\"numeric\" pattern=\"[0-9]*\">\n  \t\t\t<span class=\"input-group-addon\">years<\/span>\n  \t\t<\/span>\n    <\/div>\n\t<\/div>\n\t<\/div>\n\n<\/div>\n<div class=\"outputs container\">\n\n  <div class=\"results row\">\n  <div class=\"col-xs-6 col-sm-4 col-md-6 col-lg-4\">\n  \tTotal Payment\n  \t<big>$<span class=\"total-payment\"><\/span><\/big>\n  <\/div>\n  <div class=\"col-xs-6 col-sm-4 col-md-6 col-lg-4\">\n  \tTotal Interest\n  \t<big>$<span class=\"total-interest\"><\/span><\/big>\n  <\/div>\n  <div class=\"col-xs-12 col-sm-4 col-md-12 col-lg-4\">\n  \tMonthly Payment\n  \t<big>$<span class=\"monthly-payment\"><\/span><\/big>\n  <\/div>\n  <\/div>\n\n  <p class=\"results-sentence\">\n    With a\n    <strong>$<span class=\"output-loan-amount\"><\/span><\/strong>\n    home    loan, you will pay\n    <strong>$<span class=\"monthly-payment\"><\/span><\/strong>\n    monthly and a total of\n    <strong>$<span class=\"total-interest\"><\/span><\/strong>\n    in interest over the life of your loan. You will pay a total of\n    <strong>$<span class=\"total-payment\"><\/span><\/strong>\n    over the life of the\n    mortgage.\n  <\/p>\n\n  \n  <div class=\"cta\">\n    \n  <\/div>\n\n<\/div>\n<\/div>\n\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>When you apply for a mortgage, your lender wants to be sure you can repay the money. Income is a big factor that helps your mortgage lender make its decision \u2014 but you don\u2019t have&hellip; <a class=\"more \" href=\"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/\">Continue reading<\/a><\/p>\n","protected":false},"author":105,"featured_media":49269,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"inline_featured_image":false,"footnotes":""},"categories":[1463],"tags":[1524,1521,1532],"class_list":["post-49268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgages","tag-mortgage-purchase","tag-mortgage-rates-sidebar","tag-mortgage-qualification","how-much-income-do-you-need-to-buy-a-house","post_tag-mortgage-purchase","post_tag-mortgage-rates-sidebar","post_tag-mortgage-qualification"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Much Income Do You Need to Buy a House? - Credible<\/title>\n<meta name=\"description\" content=\"Your income plays a large role in determining what mortgage you get, but it\u2019s not the only factor. Find out what else you\u2019ll need to secure that home loan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Much Income Do You Need to Buy a House? - Credible\" \/>\n<meta property=\"og:description\" content=\"Your income plays a large role in determining what mortgage you get, but it\u2019s not the only factor. Find out what else you\u2019ll need to secure that home loan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/\" \/>\n<meta property=\"og:site_name\" content=\"Credible\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/crediblelabs\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-10T16:59:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-17T20:53:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2021\/03\/income-required-for-mortgage.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1062\" \/>\n\t<meta property=\"og:image:height\" content=\"425\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Kim Porter\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@kimsavesmoney\" \/>\n<meta name=\"twitter:site\" content=\"@credible\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kim Porter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/income-required-for-mortgage\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/income-required-for-mortgage\\\/\"},\"author\":{\"name\":\"Kim Porter\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#\\\/schema\\\/person\\\/a4e740b4f282d8cba9564a4618797db9\"},\"headline\":\"How Much Income Do You Need to Buy a House?\",\"datePublished\":\"2021-03-10T16:59:36+00:00\",\"dateModified\":\"2023-02-17T20:53:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/income-required-for-mortgage\\\/\"},\"wordCount\":1048,\"publisher\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/income-required-for-mortgage\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/income-required-for-mortgage.png\",\"keywords\":[\"Mortgage Purchase\",\"Mortgage Rates Sidebar\",\"mortgage-qualification\"],\"articleSection\":[\"Mortgages\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/income-required-for-mortgage\\\/\",\"url\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/income-required-for-mortgage\\\/\",\"name\":\"How Much Income Do You Need to Buy a House? - Credible\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/income-required-for-mortgage\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/income-required-for-mortgage\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/income-required-for-mortgage.png\",\"datePublished\":\"2021-03-10T16:59:36+00:00\",\"dateModified\":\"2023-02-17T20:53:32+00:00\",\"description\":\"Your income plays a large role in determining what mortgage you get, but it\u2019s not the only factor. Find out what else you\u2019ll need to secure that home loan.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/income-required-for-mortgage\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/income-required-for-mortgage\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/income-required-for-mortgage\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/income-required-for-mortgage.png\",\"contentUrl\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/income-required-for-mortgage.png\",\"width\":1062,\"height\":425,\"caption\":\"income required for mortgage\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/income-required-for-mortgage\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mortgages\",\"item\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"How Much Income Do You Need to Buy a House?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/\",\"name\":\"Credible\",\"description\":\"Getting borrowers connected to the right information for student loan refinancing, student loans, and personal loans.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#organization\",\"name\":\"Credible\",\"url\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2017\\\/01\\\/Picture1.png\",\"contentUrl\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2017\\\/01\\\/Picture1.png\",\"width\":901,\"height\":196,\"caption\":\"Credible\"},\"image\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/crediblelabs\\\/\",\"https:\\\/\\\/x.com\\\/credible\",\"https:\\\/\\\/www.instagram.com\\\/credible\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/crediblelabs\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#\\\/schema\\\/person\\\/a4e740b4f282d8cba9564a4618797db9\",\"name\":\"Kim Porter\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/02\\\/c2e3dbd7207faf78a8670d8cab746862-150x150.png\",\"url\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/02\\\/c2e3dbd7207faf78a8670d8cab746862-150x150.png\",\"contentUrl\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/02\\\/c2e3dbd7207faf78a8670d8cab746862-150x150.png\",\"caption\":\"Kim Porter\"},\"description\":\"Kim Porter is an expert in credit, mortgages, student loans, and debt management. She has been featured in U.S. News &amp; World Report, Reviewed.com, Bankrate, Credit Karma, and more.\",\"sameAs\":[\"https:\\\/\\\/www.linkedin.com\\\/in\\\/kim-porter-157b82101\\\/\",\"https:\\\/\\\/x.com\\\/kimsavesmoney\"],\"url\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/author\\\/kim-porter\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How Much Income Do You Need to Buy a House? - Credible","description":"Your income plays a large role in determining what mortgage you get, but it\u2019s not the only factor. Find out what else you\u2019ll need to secure that home loan.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/","og_locale":"en_US","og_type":"article","og_title":"How Much Income Do You Need to Buy a House? - Credible","og_description":"Your income plays a large role in determining what mortgage you get, but it\u2019s not the only factor. Find out what else you\u2019ll need to secure that home loan.","og_url":"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/","og_site_name":"Credible","article_publisher":"https:\/\/www.facebook.com\/crediblelabs\/","article_published_time":"2021-03-10T16:59:36+00:00","article_modified_time":"2023-02-17T20:53:32+00:00","og_image":[{"width":1062,"height":425,"url":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2021\/03\/income-required-for-mortgage.png","type":"image\/png"}],"author":"Kim Porter","twitter_card":"summary_large_image","twitter_creator":"@kimsavesmoney","twitter_site":"@credible","twitter_misc":{"Written by":"Kim Porter","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/#article","isPartOf":{"@id":"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/"},"author":{"name":"Kim Porter","@id":"https:\/\/www.credible.com\/blog\/#\/schema\/person\/a4e740b4f282d8cba9564a4618797db9"},"headline":"How Much Income Do You Need to Buy a House?","datePublished":"2021-03-10T16:59:36+00:00","dateModified":"2023-02-17T20:53:32+00:00","mainEntityOfPage":{"@id":"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/"},"wordCount":1048,"publisher":{"@id":"https:\/\/www.credible.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/#primaryimage"},"thumbnailUrl":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2021\/03\/income-required-for-mortgage.png","keywords":["Mortgage Purchase","Mortgage Rates Sidebar","mortgage-qualification"],"articleSection":["Mortgages"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/","url":"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/","name":"How Much Income Do You Need to Buy a House? - Credible","isPartOf":{"@id":"https:\/\/www.credible.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/#primaryimage"},"image":{"@id":"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/#primaryimage"},"thumbnailUrl":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2021\/03\/income-required-for-mortgage.png","datePublished":"2021-03-10T16:59:36+00:00","dateModified":"2023-02-17T20:53:32+00:00","description":"Your income plays a large role in determining what mortgage you get, but it\u2019s not the only factor. Find out what else you\u2019ll need to secure that home loan.","breadcrumb":{"@id":"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/#primaryimage","url":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2021\/03\/income-required-for-mortgage.png","contentUrl":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2021\/03\/income-required-for-mortgage.png","width":1062,"height":425,"caption":"income required for mortgage"},{"@type":"BreadcrumbList","@id":"https:\/\/www.credible.com\/blog\/mortgages\/income-required-for-mortgage\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.credible.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Mortgages","item":"https:\/\/www.credible.com\/blog\/mortgages\/"},{"@type":"ListItem","position":3,"name":"How Much Income Do You Need to Buy a House?"}]},{"@type":"WebSite","@id":"https:\/\/www.credible.com\/blog\/#website","url":"https:\/\/www.credible.com\/blog\/","name":"Credible","description":"Getting borrowers connected to the right information for student loan refinancing, student loans, and personal loans.","publisher":{"@id":"https:\/\/www.credible.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.credible.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.credible.com\/blog\/#organization","name":"Credible","url":"https:\/\/www.credible.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.credible.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2017\/01\/Picture1.png","contentUrl":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2017\/01\/Picture1.png","width":901,"height":196,"caption":"Credible"},"image":{"@id":"https:\/\/www.credible.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/crediblelabs\/","https:\/\/x.com\/credible","https:\/\/www.instagram.com\/credible\/","https:\/\/www.linkedin.com\/company\/crediblelabs"]},{"@type":"Person","@id":"https:\/\/www.credible.com\/blog\/#\/schema\/person\/a4e740b4f282d8cba9564a4618797db9","name":"Kim Porter","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2019\/02\/c2e3dbd7207faf78a8670d8cab746862-150x150.png","url":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2019\/02\/c2e3dbd7207faf78a8670d8cab746862-150x150.png","contentUrl":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2019\/02\/c2e3dbd7207faf78a8670d8cab746862-150x150.png","caption":"Kim Porter"},"description":"Kim Porter is an expert in credit, mortgages, student loans, and debt management. She has been featured in U.S. News &amp; World Report, Reviewed.com, Bankrate, Credit Karma, and more.","sameAs":["https:\/\/www.linkedin.com\/in\/kim-porter-157b82101\/","https:\/\/x.com\/kimsavesmoney"],"url":"https:\/\/www.credible.com\/blog\/author\/kim-porter\/"}]}},"_links":{"self":[{"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/posts\/49268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/users\/105"}],"replies":[{"embeddable":true,"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/comments?post=49268"}],"version-history":[{"count":10,"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/posts\/49268\/revisions"}],"predecessor-version":[{"id":66936,"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/posts\/49268\/revisions\/66936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/media\/49269"}],"wp:attachment":[{"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/media?parent=49268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/categories?post=49268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/tags?post=49268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}