Calculate Your $200,000 Mortgage
A $200,000 mortgage is a common loan amount for first-time homebuyers. Use our calculator to see your monthly payments, total interest, and payment breakdown over the life of your loan.
Salary requirements and financial profile for $200,000 financing
Minimum Income Required
$54,000
Annual salary needed to qualify
Comfortable Income
$67,000
Recommended for financial comfort
Who This Fits
First-time homebuyers, young professionals, and buyers in affordable markets looking for starter homes, condos, or small houses.
With a $200k mortgage, you'll need a minimum annual income of $54,000 to qualify using the 28% debt-to-income ratio. For comfort and emergency savings, aim for $67,000+ annually. This income level typically supports young professionals, teachers, or dual-income couples starting their homeownership journey.
What types of homes and markets align with $200,000 financing
Typical Properties
Starter homes, 1-2 bedroom condos, townhomes in suburban areas, small single-family homes in affordable markets, or fixer-uppers in desirable neighborhoods.
Market Position
Entry-level homeownership representing the bottom 25-30% of the housing market in most metropolitan areas. Popular in Midwest, South, and rural markets.
Key Considerations
Perfect for building equity and getting out of rent cycle. Consider future family growth, potential for appreciation, and nearby schools even if not immediately needed.
Explore mortgage calculations for related loan amounts
Common questions about $200,000 mortgages