$60,000 is workable for homeownership - especially with FHA loans.

The number: $210K–$235K

  • Gross monthly: $5,000
  • Max housing (28%): $1,400/month
  • After tax/insurance/PMI (~$350): ~$1,050 for P&I
  • Home price at 6.5%: ~$225,000

Make it work on $60K

  1. FHA loan: 3.5% down = $7,875 on $225K
  2. Down payment assistance: Many states offer $10K+
  3. Look at: Midwest, South, smaller metros
  4. Avoid: Coasts, major metros

Calculate yours

For the loan side specifically, see what mortgage you can afford on a $60K salary.