There is no universal minimum income requirement. Qualification depends on your debt-to-income ratio, which compares your monthly debts to your gross monthly income. Generally, lenders allow up to 43 to 50 percent of your gross income to go toward all debts including the mortgage. A single earner making 50,000 dollars per year with minimal debt could qualify for a home in the 200,000 to 250,000 dollar range depending on the loan program, interest rate, and local property taxes.

FHA loans are often the best fit because they allow higher debt-to-income ratios than conventional loans and require only 3.5 percent down. If you are a veteran, VA loans are even better with zero down payment and no monthly mortgage insurance. For rural and suburban buyers, USDA loans offer zero down payment options. The best program depends on your credit score, savings, and the area where you want to buy.

Yes, if you can document that child support or alimony payments have been received consistently for at least six months and are expected to continue for at least three more years, lenders will count this as qualifying income. This can significantly boost your buying power as a single-income applicant. Court orders, divorce decrees, and bank statements showing deposits are used as documentation.

The key is keeping your total housing cost including mortgage, taxes, insurance, and HOA fees at or below 28 to 30 percent of your gross monthly income, even if a lender approves you for more. Build an emergency fund covering three to six months of expenses before closing. Choose a home with lower maintenance needs, and consider house-hacking strategies like renting a room to supplement your income while building equity.