Most lenders allow you to Qualify at the second year rate.

The answer depends on several factors.

Check with several mortgage brokers before you start house shopping and they can give you a range.

With income at 48,000 per year, you will need a large down payment to qualify for a mortgage on a $300,000 house.

## How much is the monthly payment for a 300 000 Mortgage?

Based on their mortgage calculator (using the average settings) it seems reasonable to look at houses up to about $300,000. Their calculator estimates the monthly payments to be about $1500 a month for this price. We will be making about $50,000 a year (just over $4000 a month) plus about $20,000ish for a down payment.

## Can I afford a 300k house on a 100k salary?

Some experts suggest that you can afford a mortgage payment as high as 28% of your gross income. If true, a couple who earn a combined annual salary of $100,000 can afford a monthly payment of about $2,300/month. That could translate to a $450,000 loan, assuming a 4.5% 30-year fixed rate.

Photo in the article by “Plumplot” `https://www.plumplot.co.uk/Devon-house-prices.html`