How much income do I need for a $500,000 mortgage?

A $500,000 mortgage generally requires household income around $120,000 to $145,000, depending on your other debts, down payment, and the rate. Less debt means you need less income.

At current rates the payment with Florida taxes and insurance often lands near $3,400 to $3,800 a month. We'll back into the precise income figure based on your credit, debts, and the county's tax and insurance costs.

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