How Much House Can I Afford On 150k Salary Reddit Earning 150 000 puts you well above the average salary in the U S over double the median income in fact according to Census data With this salary you can likely afford a bigger
Probably not It would be much easier to say if you posted a monthly budget If your current house payment is say 1000 and you are only saving 2000 you probably can t afford it If it is 3k and you are still saving 2k then you can pretty easily afford it Regardless I suspect that a 750k purchase with 175k down and 575k mortgaged would You can afford a house up to 229 813 Based on your income a house at this price should fit comfortably within your budget 1 837 mo Looking to afford more Get one step closer to landing the home you want by getting pre qualified with Zillow Home Loans Explore financial scenarios NMLS 10287 Explore more mortgage calculators Mortgage calculator
How Much House Can I Afford On 150k Salary Reddit
How Much House Can I Afford On 150k Salary Reddit
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Affording a house involves your income debt to income ratio credit score and mortgage rate The 28 36 rule suggests spending no more than 28 of your gross monthly income on housing and total debt shouldn t surpass 36 For instance if your annual income is 150 000 about 12 500 monthly your mortgage payment should be less than 3 500 Home Affordability Calculator How Much House Can I Afford realtor Know how much you can afford We ll help you estimate how much you can afford to spend on a home
That means your mortgage payment should be a maximum of 1 120 28 percent of 4 000 and your other debts should add up to no more than 1 440 each month 36 percent of 4 000 What do you do How Much House Can I Afford Affordability Calculator NerdWallet Advertiser disclosure How much house can I afford This is what you can afford in 417 249 Your monthly
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Next divide that number by your gross monthly income For example if you re thinking of a total monthly housing payment of 1 500 and your income before taxes and other deductions is 6 000 then 1 500 6 000 0 25 We can convert that to a percentage 0 25 x 100 25 Since the result is less than 28 the house in this example may How much house can I afford See what you can afford and find homes within your budget Net Income 69 000 Annual household income year Before taxes Include any co buyer s income Monthly debts month Obligations like loan and debt payments or alimony but not costs like groceries or utilities
How much house can we afford This thread is archived New comments cannot be posted and votes cannot be cast 0 12 comments posts stupid things 7 yr ago The general rule I m aware of is 3x your income Don t forget PMI and closing costs So let s say 400k max Don t mistake that for you need a 400k house Front end DTI This only includes your housing payment Lenders usually don t want you to spend more than 31 to 36 of your monthly income on principal interest property taxes and insurance
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How Much House Can I Afford On 150k Salary Reddit - Home Affordability Calculator How Much House Can I Afford realtor Know how much you can afford We ll help you estimate how much you can afford to spend on a home