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How Much Income Do I Need to Qualify for Home Financing | Omaha NE Homebuyer’s Guide

To see how much you qualify for on a loan we are going to use your debt-to-income ratio.

This is your gross monthly income, the house payment, and the payments showing on your credit report (we do not have to include things like insurance, utilities, cell phone, etc). For your housing debt ratio, we can go up to 35% of your gross income (there is some wiggle room on this with compensating factors*) and the max total debt ratio is 50% (this is the new house payment and all your other debts).

$5000 monthly gross income
$1750 max payment (mortgage, taxes, and insurance)
$2500 max total debt payments

*Compensating factors are excellent credit scores and a larger down payment


If you are purchasing in Nebraska or Iowa, I can do a free pre-approval with no hard credit inquiry to get you some estimates of the price point.

Phone: 402.305.4824

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