How Do I Know How Much I Can Afford?
November 20, 2008
Julia asked:
I’m 25 and graduated college about 2 years ago and make about 48k a year as a dental hygienist in Orlando. I am looking into buying my first home but am having a hard time figuring out how much I can afford. I keep using these calculator things I find like on google, but they keep telling me I can only afford about 90k. How can that be right? Like seriously? Could it really be that until I make like over 100k I can hardly afford a house? I find it very hard to believe.
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I’m 25 and graduated college about 2 years ago and make about 48k a year as a dental hygienist in Orlando. I am looking into buying my first home but am having a hard time figuring out how much I can afford. I keep using these calculator things I find like on google, but they keep telling me I can only afford about 90k. How can that be right? Like seriously? Could it really be that until I make like over 100k I can hardly afford a house? I find it very hard to believe.
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Are home mortgage calculators wrong or why are the salaries always way below the housep prices?
April 26, 2008
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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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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Josh Dunaway has been a certfied Realtor in the suburban Chicagoland area for over 20 years. Aside from starting his own real estate company, he also owns a mortgage company as well.