What's the gross monthly income needed to be eligible for a mortgage loan of $500,000?
for a loan amount of 500k 30 years fixed, the monthly mortgage would be around 2.5k. What i want to know is what would your gross income per month have to be for you to be accepted for a loan this amount?
--- forgot to mention With a high credit score
-------- the 500k is with a down payment already the total loan is 500k and in my area the rates are around 4% for 30 years fixed
--- i have no debt, my car payments have all been paid off