Are home mortgage calculators wrong or why are the salaries always way below the housep prices?

April 26, 2008

mortgage calculator
gonzo09 asked:


For example, in Calabasas, the salaries are in the 100K and the usualy income is $180,000 according to city-data, but if you go to CNN’s affordable house calculator the most expensive house you could get is $1,000,000 though most houses are at least $2,000,000 there. Why? Are a lot of people just renting?

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Ignoring cost of land, about how much house can I afford to build?

April 17, 2008

how much house can i afford
kncnicole asked:


I know it will very by alot of factors, but I want a general idea BEFORE meeting with a builder.
I have about $100,000-$115,000 for building, and can possibly get more if it is for something worthwhile.
I need at least three beds and two baths, and would like at least 1500 sq ft.
About how much house can I afford, especially going for mid-range quality, and where are places where I cant skip on quality at all, where are places I can?
Any help would be greatly appreciated. Thank you. If I need to put any more info just let me know.
There are some extras I would like, if I could fit them in…
I would love a bay window breakfast nook, and a laundry/mud room. How much do things like that add?
Also, how much difference can one expect between a one story and two, if the square footage remains the same?

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How expensive of a house can I afford on 30K?

April 15, 2008

how much house can i afford
Laura asked:


I make about $32,000 gross a year and want to buy a townhouse,but don’t have a down payment. How much house can I afford for what I make?
I live in Minnesota

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how much house can I afford? 10 points, thanks. ?

April 11, 2008

how much house can i afford
berrytrain asked:


I don’t like those calulators, I just want some solid opinion.

I make $16 an hour, full-time. I have no debt, no car payments, etc.
I have 30K in savings. My credit score is 780. I am a first time home
buyer, 47 years old. I live in Denver, Colorado. Do you need any other pertinent information? Thanks.

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