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re: Salary of $115,627 needed in order to qualify for a mortgage on a typical American home
Posted on 10/19/23 at 9:20 am to JohnnyKilroy
Posted on 10/19/23 at 9:20 am to JohnnyKilroy
quote:
Math not your strong suit?
Rounded up, since most people like to toss the half million $ out there. That is why I added "~". Average home price is $430,000 right? Close enough.
We should probably round down though, and just focus on SEC states
Average Home price, by SEC states
https://www.fool.com/the-ascent/research/average-house-price-state/
1
Posted on 10/19/23 at 9:25 am to DarthRebel
quote:
Rounded up, since most people like to toss the half million $ out there. That is why I added "~". Average home price is $430,000 right? Close enough. We should probably round down though, and just focus on SEC states
Cool.
So looks like for Kentucky, the average down payment is right at $40k.
Again, median household income in Kentucky is $55k. Not individual but household.
How are those people saving up a $40k down payment?
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