Can I buy a house if I only make $3,000 a month?
No, purchasing a million-dollar home on a $100,000 annual salary is generally not feasible under standard mortgage lending criteria. Most financial experts and lenders estimate that an individual would need an annual income of approximately $277,000 to comfortably afford a $1 million property, assuming a 20% down payment and minimal existing monthly debt. If you have a smaller down payment, higher property taxes, HOA fees, or significant other debts, that required salary threshold could climb to $300,000 or even $350,000 per year. Attempting to qualify for such a high-value loan with a $100,000 salary would likely result in an unsustainable debt burden that most lenders would decline to approve, as it would violate standard debt-to-income guidelines.
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