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Message
re: Mortgage Amount 2-2.5x Annual Income
Posted on 4/13/22 at 11:29 am to down time
Posted on 4/13/22 at 11:29 am to down time
quote:
Quick Google search shows median household income in USA is 70 and median home is 370.
Home values in shitty markets have increased 30% over the last 5 years so that logic is flawed.
No more than 36% of monthly take home should be your mortgage payment. Again if your take home is 50k/mo you can probably feel ok about stretching that mortgage payment a little. The opposite is true if your take home is 5k/mo.
Lifestyle matters. Know thy self is best rule of real estate.
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