What website can tell me the needed income to afford a house at different prices?

Question

School project.

Answer 1

honestly I am not sure...

but I will tell you this..

I saved up to buy a house while living on minimum wage..

the MOST important thing a person can do is SAVE MONEY... to make a HUGE DOWN PAYMENT..

never make 10% only down payment.. make at least 25%

here is a link that helps you save/make money

http://www.gomestic.com/Personal-Finance...

Answer 2

The old formula was that your mortgage payment should not be more than 25% of your monthly income and total bills should not exceed 40%.  www.realtor.com has a mortgage calculator that you can use to figure monthly payments.  I don't know of any websites that tell the income needed because it really varies by person and loan.  Lenders take into consideration a person's total bills.