Real bank math — not a rule of thumb. Based on 36% back-end DTI at current rates.
| Credit Score | Rate | Monthly P&I | Income Needed |
|---|---|---|---|
| 580+ | 7.8% | $1,439/mo | $59,791/yr |
| 620+ | 7.5% | $1,398/mo | $58,414/yr |
| 660+ | 7.1% | $1,344/mo | $56,602/yr |
| 700+ | 6.7% | $1,290/mo | $54,818/yr |
| 720+ | 6.4% | $1,251/mo | $53,500/yr |
| 740+ | 6.1% | $1,211/mo | $52,199/yr |
Banks approve mortgages based on your Debt-to-Income ratio (DTI) — not just income. The numbers above assume 36% back-end DTI with no other debts. If you have a car payment, student loans, or credit card minimums, your required income goes up.
Example: A $500/month car payment on a $250K mortgage means you need an additional $16,667/year in income to stay within DTI limits.
Ask Zai with your actual debts, score, and down payment for a precise answer.
🏦 Ask Zai Free → 📊 Full CalculatorNot financial advice. Rates illustrative based on market averages. Actual requirements vary by lender.
Prices and rates are widely reported. Whether a lender says yes is not. In the complete 2025 federal record, denial rates across the 100 largest FHA lenders ran from 1.8% to 78.7% — same programme, same year.
And it is not simply who applies where: standardizing on state, loan amount, income, debt-to-income and loan-to-value, applicant mix explains only a 2.7× range in expected outcomes.
CFPB HMDA 2025, computed by FinanceRateCalc. Covers the highest-volume lenders published per market, not all lenders. Historical observations, not predictions. CC BY 4.0, not independently reproduced.