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Can I get a mortgage for 5 times salary? **Yes**. While it's true that most mortgage lenders cap the amount you can borrow based on 4.5 times your income, there are a smaller number of mortgage providers out there who are willing to stretch to five times your salary.

Which banks lend fives times your salary? **Barclays, Sainsbury's Bank, Santander, Scottish Widows Bank and Virgin Money** all let customers borrow five times their earnings.

Can I get a mortgage that is 5.5 times my salary? **Yes**, this could well be possible. Only some lenders will offer a mortgage that's 5.5 your salary and their decision will largely depend on your personal circumstances.

Most mortgage lenders use an income **multiple of 4-4.5 times your salary**, some offer a 5 times salary mortgage and a few will use 6 times salary, under the right circumstances to work out how much mortgage you can afford.

Most lenders will lend **4.5 times an annual salary** whether you're employed, a freelancer, contractor or limited company director.

**HOUSEHUNTERS can** borrow up to seven times their salary with a new mortgage deal. Buyers need to consider the eligibility criteria and whether it's the best option for them - here's everything you need to know about the mortgage deal.

Most providers are prepared to lend up to 4 - 4.5x your annual income, which in this instance means that you will need to bring home a minimum of **£66,667 - £75,000 a year** (combined incomes will be used if you're applying for a joint mortgage).

The usual rule of thumb is that you can afford a **mortgage two to 2.5 times your annual income**. That's a $120,000 to $150,000 mortgage at $60,000.

How much should you be spending on a mortgage? According to Brown, you should spend **between 28% to 36% of your take-home income** on your housing payment. If you make $70,000 a year, your monthly take-home pay, including tax deductions, will be approximately $4,328.

You may also be able to get a 8 times income remortgage. Typically most **mortgage lenders will offer you a mortgage for around 3 and 4 times your salary**. ... This means the 8 times income mortgage could end up costing you more in interest than a similar 4.5 times income mortgage.

No, these **mortgages are only available to applicants who have conducted their credit commitments very well**. As a rule of thumb if you have county court judgements (CCJs), arrears, defaults you are looking at a maximum of 4.5 times your income.

A common threshold set by many lenders is **£50,0000** with many lenders setting this as the lowest mortgage amount you can get from them, First Choice Finance have numerous lenders with mortgage deals below 50k, as well as mortgages and remortgages we can also offer home loans for £50,000.

A mortgage lender is letting homebuyers borrow up to seven times their income – well above the traditional maximum – which it says will allow some to buy a property they might have assumed was well out of their price range.

- Check your credit score. Along with your income, lenders will be looking at your credit score. ...
- Get to grips with your income. ...
- Choose the best time. ...
- Show off your work. ...
- Put down a bigger deposit. ...
- Work with a mortgage broker.

Talking to a broker: **Some lenders could give you a bigger mortgage than others**, and brokers can work out which ones are most likely to lend you more.

If you're looking to apply for a mortgage, your gross income **is key to knowing how much you can afford**. Mortgage lenders and landlords use your gross income to determine your financial reliability. Lenders want to know what percentage of your income will go to a mortgage payment.

The golden rule in determining how much home you can afford is that your monthly mortgage payment **should not exceed 28% of your gross monthly income** (your income before taxes are taken out). For example, if you and your spouse have a combined annual income of $80,000, your mortgage payment should not exceed $1,866.

What income is required for a 400k mortgage? To afford a $400,000 house, borrowers need **$55,600 in cash** to put 10 percent down. With a 30-year mortgage, your monthly income should be at least $8200 and your monthly payments on existing debt should not exceed $981. (This is an estimated example.)

This means that to afford a $300,000 house, you'd need **$60,000**.

A $300k mortgage with a 4.5% interest rate over 30 years and a $10k down-payment will require an **annual income of $74,581** to qualify for the loan. You can calculate for even more variations in these parameters with our Mortgage Required Income Calculator.

If you make $50,000 a year, your total yearly housing costs should ideally be no more than $14,000, or $1,167 a month. If you make $120,000 a year, you can go **up to $33,600 a year**, or $2,800 a month—as long as your other debts don't push you beyond the 36 percent mark.

Traditionally, mortgage lenders applied a multiple of your income to decide how much you could borrow. So, if you earn £30,000 per year and **the lender will lend four times this**, they may be willing to lend £120,000. ... This is something that has become particularly strict following mortgage regulations introduced in 2014.

Most cap the amount you can borrow at 4x - 4.5x your annual income. For a £350,000 mortgage, this would mean that you would need to be earning a minimum of **£87,500 - £77,778 a year**. If you're applying for a joint mortgage, this will be the sum of your combined incomes.