- Homebuyers must have $55,600 available in cash to put 10% down on the home.
- If you plan on obtaining a 30-year mortgage, you’ll need to have a monthly income of at least $8200.
- Lastly, your monthly payments for existing debts should not exceed $981.
When it comes to purchasing a $400,000 house, there are some financial factors that need to be taken into consideration. In order to qualify for a mortgage of that amount, there are certain income requirements that need to be met. Here are the income requirements that are necessary to qualify for a mortgage of $400,000: