First Time Home Buyer Income: What You Really Need to Qualify
When you’re buying your first home, first time home buyer income, the minimum earnings needed to qualify for a mortgage without a large down payment. Also known as homebuyer income thresholds, it’s not just about how much you make—it’s about how steady it is, what debts you carry, and whether you’ve got the right support programs. Many people think they need to earn six figures to buy a house, but that’s not true. In the UK, you can qualify with far less—especially if you’re using government schemes or low-deposit mortgages.
What most first-time buyers don’t realize is that lenders don’t just look at your salary. They check your debt-to-income ratio, how much of your monthly income goes toward paying off debts like credit cards or student loans. Also known as DTI, this number tells them if you can handle a mortgage payment on top of everything else. If your rent is £800 and you’re paying £200 in student loans, that’s £1,000 already gone. Lenders want to see that your total monthly debt stays under 40% of your gross income. So even if you make £35,000 a year, you might still qualify—if your debts are low.
Then there’s first time buyer assistance programs, government-backed schemes that help people with lower incomes buy their first home with smaller deposits and better rates. Also known as homebuyer grants, these programs exist in many parts of the UK and can cover part of your deposit or reduce your mortgage interest. In some cases, you can buy with just 5% down—and the government gives you a loan for another 20% or more. These aren’t handouts. They’re loans you pay back, but they make homeownership possible for people who wouldn’t otherwise qualify.
Income isn’t the only thing that matters. Your credit score, job history, and even your bank statements matter too. If you’ve been in the same job for two years, that helps. If you’ve got a side gig you’ve been reporting for a while, that counts too. Lenders want to see stability, not just a big number on your payslip.
There’s no magic income number that works for everyone. A £40,000 salary might be enough in Manchester but not in London. A £50,000 salary might be tight if you’ve got £15,000 in student debt. That’s why the real answer isn’t a single figure—it’s a mix of your income, your debts, your savings, and the help you can access.
Below, you’ll find real guides from people who’ve been through it. Some bought with £30,000 a year. Others used help from their parents or local schemes to get over the finish line. No one had a perfect score or a six-figure job. They just knew what to look for—and what to ask.
