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re: House = (x)household income
Posted on 8/10/15 at 4:01 pm to SouthOfSouth
Posted on 8/10/15 at 4:01 pm to SouthOfSouth
quote:
When yall talk (x)hh income are yall talking about amount of loan or total home cost?
I'm talking total home purchase price with 20% down. So my 2-2.5x would be someone making 200k buying a 400-500k house. Of course, issues like amount of salary, insurance, property taxes, public vs private schools would be variables not taken into account with this formula.
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