It depends if you want to be married to a mortgage or not... Jumbo loan rates a re a little higher. So if you wanted to buy a million dollar home you would need $200,000 down and finance $800,000 @ 6% is $4796 a month with around $800.00 a month for taxes and $100 for insurance for a total payment of $5696.00. It is recommend to be around 31% of a house payment to income so around $18,000 a month would qualify. It is also recommended that a person never buys a home more then 3x`s your yearly income... which only shows an $18,000 monthly income should only purchase a $648,000 home.... but then again- can`t keep up with the Jones`s then.

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if you are looking for a house within your salary range, do calculate your expenses and savings. it depends on you that how you manage your monthly expenditure and imstallments. if you are earning 100 000 per year you can go to the bank and show them your final income . usually banks allow you to buy the house upto 2 or 3 times your income. if you are running a house with kids it will be difficult for you to manage a high priced house.

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Most banks use the 28/36 rule to figure out how much your house payments should be. This means your monthly costs to service your housing payment should not be more than 28% of your gross income and the total of all your debt payments should not be more than 36% of your gross income. A general rule of thumb to get how much house you can afford is to multiply your annual salary by 3.5. In your case with a salary of $90000 you should be looking at houses in the $315,000 range. Assuming you make a down payment of 20% (recommended) you will still need to borrow about $252,000. Assuming an interest rate of 4.75% and an amortization of 25 years this works out to about $1,429.99 per month in mortgage costs. Your pre tax income per month is $7500. This means you will need about 19% of your pre tax income to service your mortgage costs alone . Factor in property taxes, insurance and utilities and this percentage will obviously climb and challenge that 28% that banks look at but this calculation is close to what you can expect in the real world. Good luck with your home purchase and make sure you save 20% down. If you only save 5% the bank will force you to take out an insurance policy on the debt increasing your monthly costs by a couple hundred dollars per month.

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In order to afford million dollar house , the person require to earn a big amount of money. His income should be about 450,000 dollars to 500,000 dollars in a year ,depending on the person`s other expenditures ,his credits, no. of kids and other family members etc.

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Some of the important points should be kept in mind while determining the amount you can spend to build a house are the city where you live and what are your regular expenses or finance related boundations . With normal savings and expenses , you can afford a mortgage of $376,000 and down payment of 12,000 dollars as per your income. I hope this help you a lot.

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where can a person living onssd/ssi of 700 a mo with good credit get a personal low interest loan to pay off a bills for one monthly pawment of 700.00

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accept credit card and paypal Good news: this website ( http://www.voguecatch.com) we has been updated and add products and many things they abandoned their increases are welcome to visit our website. Accept cash or credit card payments, free transport. You can try oh, will make you satisfied.

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how much would the mortgage be on a 1.5 million house?

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your salary level is $90,000 then your mortgage is decide according to your terms and size. your bank will decide the interest of the payment.most banks interest is among 28% and 33%.according to your state it will be depend ruffly you can mortgage $2100. Let`s assume you will save a little more to get you up to 20%. This means you need to save $98000 or $78000 more. With this down payment you will still need to borrow $412000. If you amortize over 25 years and assume an interest rate of 4.75% (probably a little low) your monthly mortgage payment is going to be$2,337.92. Making $140,000 means you are making about $11,666 a month. This means about 20% of your pre tax income will go just to the mortgage.

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how much is payment per 100k you borrow on fha

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