I'm not understanding this explanation. Please help me do it on a financial calculator.

How much will a person need to make to buy a 500,000 house with a 75% mortgage, when the interest rate is 25 year amortization, 5%, there is 1 point on origination. The taxes are 10,000 and insurance is 2400 annually. He has credit card payments of 1000 per month, a car loan of 575 per month, and 1000 per month installment loans. $500,000 75.0% $375,000 25 5.0% 2,192 $26,307 6 Home price rate Payment pmt costs Total obligations Annual $26,307 $2,400 $10,000 $38,707 Housing costs credit cards 1000$12,000 ar loan loan Total back ratio Income required $161,876 nsurance 575 $6,900 538,707 28% $138,238 total housing payment 1000 $12,000 $69,607 43% ratio Income required Take the more conservative of the two answers $161,876