Can I Afford A 600K House

Income to Afford a $600,000 House. To afford a house that costs $600,000, you’ll need to make $98,211 per year before tax. This assumes a 20% down payment ($120,000), a 30-year mortgage at 4% interest, and spending 28% of your income on your mortgage payment. What is the income needed to buy a $600,000 house? Down 3.50% 3.75% 4.00% 4.25% 4.50%.

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I make 100K a year, have a credit score of 780 and no other loans and can put down 80K down. RE taxes are approx. 7K – How much house can I afford? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

Can I Afford a $600,000 Home? Financial advisors recommend that your mortgage payment should be no more than 28% of your monthly household income. Considering that fact, here are the minimum required monthly incomes you need to afford this house based on your down payment.

Minimum Annual Income to afford a 400-500K Condo Started by pretzel_nyc. over 9 years ago. Posts: 20. i can sublet anytime, and i have $100k leftover in savings and IRA’s. i can also stay at my family’s house in queens for free if i ever needed to. so, maybe i’m an exception. but it’s not.

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The Mortgage Affordability Calculator estimates a range of home prices you may be able to afford based on the accuracy and completeness of the data and information you enter. The results are intended for illustrative and general purposes only, and do not constitute, nor should they be relied upon as financial or other advice.

See how much you can afford to spend on your next home with our Affordability Calculator. Calculate your affordability to see what homes fit into your budget.

I see that there have been several answers offering various rules-of-thumb. While I don’t completely agree with them, they don’t answer your question, namely, what price home can you afford. Let’s look first at what you qualify for, then at what y.

Salary needed for 600,000 dollar mortgage. This page will calculate how much you need to earn to buy a house that costs $600,000. It assumes a fixed-rate.

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