How much do you need to make to afford a $400,000 house in Virginia?

Your required income depends on your interest rate, down payment, debts, and loan type. For example, purchasing a $400,000 home with a 30-year fixed mortgage at around 6.25% could require an income near $80,000 annually if your debt-to-income ratio is close to 43%.

Every borrower’s situation is different, so many buyers compare lenders to determine the best place to get a mortgage based on rates, loan programs, and qualification requirements.