s********l
发帖数: 21 | |
f*******h
发帖数: 1269 | 2 8w-12w?
【在 s********l 的大作中提到】
: What do you think?
|
s********l
发帖数: 21 | 3 How to calculate this? Try to buy a house but feel do not have enough $
【在 f*******h 的大作中提到】
: 8w-12w?
|
s********y
发帖数: 3811 | 4 a rule of thumb is the house price should be lower than 4 times of your
salary. if your salary is 75k, probably u should target your house purchase
below 300k.
【在 s********l 的大作中提到】
: How to calculate this? Try to buy a house but feel do not have enough $
|
S****k
发帖数: 95 | 5 It depends on your net income. Use 28% as a benchmark for your monthly net
income when calculate monthly house payment. |
P**a
发帖数: 1267 | 6 It depends on several factors - income, down payment,other debt, your credit
history...so that the lender can calculate your monthly mortgage payment,
which usually shall not exceed 20 or 25% of your gross pay, or they may as
well use 30% after-tax income as a gauge but it's more complicated since
mortgage interest may or may not be tax deductible.
Some lenders may be more conservative than others. You need find out how much you can borrow and a pre-approval letter before you start house hunting |
P**a
发帖数: 1267 | 7 For example, a house's purchase price is $400k, down payment 20%, $loan
amount is 320k. The mortgage monthly payment is $1,717.83 at 5% for 30 years
, plus taxes and insurance. So your total monthly payment may be around $2k,
which translates into a minimum of $8k or $10k gross income a month.
I'd say it's pretty tight if the income is $8k a month and you still have
car loans and daycare. Or it takes two income to afford the mortgage payment
-- there're just so many uncertainties in this econom |
