where have all the answers gone?if your income for year 6,7, and 8 are not guaranteed (ie you haven't got a contract saying you will earn that much) then no bank will take it into account. they will say right, this is what you're earning for the next 5 years, this is what we look at. they will probably factor in a continued pay rise at the rate equivelent to the first 5 years, but they will not agree with the jump in income to 300 000, even if it is a realistic, even a conservative estimate. because banks minimise their risk. they will tell you to come back in 5 years when you are actually earning that much.also, in 5 years you might have other financial responsibilities like a wife and kids. banks will also consider that.if i were you i would be renting now anyway. housing prices are going up, interest rates are going up, and unemployment is going up. anyone who's studied even one subject in economics would tell you that theres something WRONG there.
First you call yourself King, then you call yourself Monarch, so I am guessing that no matter what answers you get, you will do whatever you want.You have much too much debt to consider buying a home at this time. If you don't believe us, go talk to a mortgage broker, who will be unimpressed with your contracted income that you have not yet earned, and will explain that you will need to show actual income for two years before you can qualify to purchase a home. The fact that you are getting your down payment from Mom and Dad also shows some immaturity on your part. You need to work for a few years, get your debt paid down and save your own down payment.