Is My Salary/Pay To Low To House Hack?

[Shondell Alford]

I believe i’ve gotten over my fear of making the “real estate leap” BUT, it’s this one thing in the back of my mind.... do I make enough to even start house hacking? My current job pays $12.50. I live in Georgia where the minimum wage is $7.25. I guess the fear comes from the fact I would have other tenants to care for out of pocket for possibly the first few months, vacancy, maintenance, and that I could possibly get denied a 203k loan due to insufficient income.

[Andrew B.]

Talk to a bank/mortgage broker. That's the only way to know how much house you can afford. Also, your salary is not the only thing that matter. Banks care more about your debt to income ratio than actual income alone.