Short answer: At today's mortgage rates, a $300,000 home is a stretch on a $70,000 salary in Houston. The full monthly payment would be about $3,045, which is roughly 52% of your gross income, above the 43% many lenders like to see. With no other debts, a $70K income comfortably supports a home around $215,000 to $245,000. But with the right mix of down payment assistance, a seller-paid rate buydown, a homestead exemption or a co-borrower, $300K can come within reach.

The math on a $70,000 salary

• Gross monthly income: about $5,833
• 43% debt-to-income limit: about $2,508 a month for all debts combined
• If you have a $300 car payment, that leaves about $2,208 for your house payment

What a $300,000 home costs per month in Houston

• Principal and interest (FHA, 3.5% down, 7.28%): about $1,980
• Property taxes (2%): about $500
• Homeowners insurance: about $430
• FHA mortgage insurance: about $135
• Total: about $3,045 per month

That's about $540 a month more than a 43% DTI allows, even with no other debts.

So what can you afford on $70K?

Your other monthly debts	Estimated home price
$0	About $245,000
$300 (e.g., a car payment)	About $215,000
$600	About $190,000

Same assumptions as above, using a 43% debt-to-income ratio.

The good news: there are plenty of homes in that range in the Houston area. Channelview's median sale price is about $236,000 and Pasadena's is about $250,000. See average home prices by city.

How to make a $300K home work on $70K

1. Get the seller to buy down your rate. Lowering the rate from 7.28% to about 6% cuts the payment by roughly $245 a month. In today's Houston market, many sellers and builders offer this.
2. Use down payment assistance. Programs like the City of Houston and Harris County programs can reduce your loan amount and monthly payment.
3. File for your homestead exemption. Once you live in the home, the $140,000 school district homestead exemption can lower your property taxes by roughly $100 or more a month.
4. Pay off small debts. Every $100 in monthly debt you eliminate adds roughly $10,000 to your buying power.
5. Add a co-borrower. A spouse or partner's income can make a big difference.
6. Ask about higher DTI approvals. Some loan programs allow a DTI above 43% for buyers with good credit and savings. Just make sure the payment fits your real budget.

Combining two or three of these can bring a $300,000 payment close to what lenders like to see.

Can vs. should

Even if a lender approves you, ask yourself whether the payment leaves room for savings, emergencies and life. A home that costs a little less can mean less stress and more money in your pocket every month.

Next steps

• Read what salary you need for a $300K or $400K home
• Learn how to get pre-approved in Houston
• Search homes for sale in your price range

All figures are estimates for illustration only and are not a loan approval or financial advice. Your payment and qualification will depend on your credit, loan type, rate, taxes, insurance and lender guidelines.