can i get a mortgage on a salary of 16000
If your credit history is good, the lender may let you take out a mortgage with a monthly payment equal to 30% or even 40% of your gross monthly income.In our example, 40% would get you a yearly mortgage payment of $20,000 or $1,666.66 per month.hat $50,000 gross income is reduced to $36,000 net after 28% goes to pay taxes. Taking $20,000 out of that to pay the mortgage leaves you $16,000 to live on for the year. On a monthly basis, that's $1,333.33.