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re: Salary of $115,627 needed in order to qualify for a mortgage on a typical American home
Posted on 10/18/23 at 10:46 am to OGtigerfan87
Posted on 10/18/23 at 10:46 am to OGtigerfan87
quote:
You can move to rural areas, small towns and even medium size cities and it would literally take half of these salaries to own a house.
What you need is that salary to just own a house in the rural area, if you want to be on reasonable terms. If you only make even half that salary, you better find a shack in the middle of no where to be able to afford it.
Only a stupid fool would make the stats reported in OP though. Purchasing a 420k home at today's interest rates on only 115k a year sounds like torture.
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