Monday, July 11, 2011

Please help!!! how much salary for me and wife infuture to own this home?

You can no longer go over 2.5 times annual income if you have at least 20% cash down. If you go over 2x income, you are likely to get into trouble even if you do put down the 20%. So you would need income of @$550k to buy in that range. Note that million-dollar-plus houses, due to the difficulties of obtaining mortgages in that range, are frequently all-cash deals.

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