If I have 748 credit and want to purchase a $300k home with 20% down, how much do I need to make?

That's going to depend on multiple other factors, such as the property taxes on the home, the homeowner's insurance policy you choose, and the debts currently being reported on your credit. To get a very rough idea, take your gross base monthly income and divide it in half. From there, subtract out your monthly payments of anything you have on your credit (car loan payments, student loan payments, minimum credit card payments, etc.) and whatever is left over should represent your maximum total monthly hosuing payment.If you want more specifics or to get qualified to purchase, feel free to reach out to me through the info on my profile.

Hi, Cody pretty much nailed it with his response. We are a nationwide lender at CrossCountryMortgage and if you want to get into specifics on your potential deal reach out to me at 954-274-7725 or Ralph.Guertin@myccmortgage.com

Much more info needed to answer.. It's not that easy.. Lending guidelines require you to be within a certain "Debt to Income" (DTI) range.. the range varies based on the loan product you go with, but assuming you go conventional, 50% DTI is the maximum.. We have to look at the MINIMUM payments on all of your outstanding DEBT and add the new housing payment to determine what the income would need to be to qualify.. So, how much are the property taxes? how much is the homeowners insurance? Is there an HOA? All that would need to be calculated to determine your "housing payment".. As far as obligations go.. do you have any credit card payments? student loans (deferred or not)? car loans? Personal Loans? what about Child Support or alimony? Are you making payments on back taxes? etc.. again.. much more info needed to properly answer your question. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

While not perfect, one quick way of getting a ball park idea is that most people can qualify for a home about 4 times their yearly income if they don't have an excessive amount of debt (car loans, credit cards, student loans). So a $240,000 home would typically require an income of at least $60,000/yr. The only 100% true way to determine is to complete a full application with your local mortgage lender. For loans in MN, WI, and SD, visit me at 1MortgageJoe.com or call 651-552-3681. NMLS274132.