Buying A House With Low Income: Loan Options, Tips And More

Aug 26, 2024

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Wondering if you earn enough to qualify for a mortgage and purchase a home? You aren’t alone.

While home buyers share common challenges when purchasing a home, trying to buy a house with a low income can present even more challenges. Fortunately, borrowers have a variety of loan options and programs available to help make homeownership more attainable for would-be homeowners with lower wages.

Learn everything you need to know about buying a house with low income.

Can You Buy A House With Low Income?

Though there’s no minimum income requirement for buying a home, it can still be tricky for low- to moderate-income buyers to get approved for a mortgage and purchase a home.

Besides meeting loan and lender requirements for credit and debt-to-income ratio (DTI), buying a home involves a lot of costs, such as a mortgage down payment. However, certain loan types or programs can put homeownership within your reach. 

See What You Qualify For