$150k income, $750k mortgage – thoughts? [Burbed.com] – A 750k mortgage and a 10% to 20%downpayment gets you into the cupertino school district of Santa Clara, which is more than decent. $150k can broadly be achieved with two incomes. Regarding cash reserves, you just can’t grow them with that equation, but you can manage not to shrink them either for a few years (and I’m not talking ramen).
A typical rule of thumb is you should not put more than 36 percent of your income toward debts (mortgage payments, car payments and credit card payments), 31 percent toward taxes and then have 33 percent for everything else (including savings or investments). Of course you will probably have to consider other factors such as the average cost of.
The usual rule of thumb is that you can afford a mortgage two to 2.5 times your annual income. That’s a $120,000 to $150,000 mortgage at $60,000. You also have to be able to afford the monthly.
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How much you have to earn to buy (and live comfortably) in. – The average family would not qualify for a loan, as when you compare the average mortgage repayments to an average Sydney income, the repayments would be 70 percent of their income. Melbourne For first home buyers wanting to move to Melbourne, an average household income of nearly $150,000 is needed.
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You would need a monthly income of about $3,000 +/- to qualify depending on the other monthly payments you have on your credit report. Please feel free to contact me for more information or help. John Burke senior mortgage banker eng lending (877)228-9069 firstname.lastname@example.org
The Salary You Need to Buy a Home Across the UK – While you’d need to make £275,000 a year to buy a detached house in London, earning just £14,000 a year could get you a flat in Blackburn. Explore the map below to discover the salary you need to buy a home in 65 major towns and cities across the UK. If you’re buying with a partner, the salary you need would be your combined salary.
My wife and I make $200k annually. How expensive of a. – · Assuming that you have a FICO score of 740 or higher and no long-term debt, you qualify for a purchase of $1,450,000 with $290,000 down. This is based on a rate of 4% and a DTI of 43%. Your monthly payment including taxes and insurance would be $7,150 per month.
How the home affordability calculator works. This calculator uses these guidelines for determining how much house you can afford, which are similar to common underwriting criteria that mortgage lenders use. Your total mortgage payment should be no more than 28 percent of your gross monthly income
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