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re: How much home can I afford?

Posted on 1/11/22 at 8:05 am to
Posted by tigersfan1989
Baton Rouge
Member since Oct 2018
1265 posts
Posted on 1/11/22 at 8:05 am to
(no message)
This post was edited on 2/28/22 at 3:45 am
Posted by FinleyStreet
Member since Aug 2011
7910 posts
Posted on 1/11/22 at 8:22 am to
quote:


What? I make 150k / year and don’t think I’d be able to swing 600-700k house even with that down payment


Yeah I think that is why "afford" was in quotes. If you put those metrics into a housing salary calculator it spits out 600kish.
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80856 posts
Posted on 1/11/22 at 1:47 pm to
quote:

What? I make 150k / year and don’t think I’d be able to swing 600-700k house even with that down payment. Please don’t take this advice you’ll be house poor
You obviously have poor reading comprehension. That is why afford is in quotes. For you specifically, a $700k home would be less than 50% of your take home pay monthly. With no debt, the bank will say you can afford that easily. Is that a smart move financially? Hell no.
This post was edited on 1/11/22 at 1:48 pm
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