How much $$ you need to buy a house

Well… this is kinda of depressing, depending on where you live or where you want to buy a house.

A report released Monday by mortgage and loan site HSH.com looked at what salary families in 27 metro areas would need to afford the local median home price, including principal, interest, taxes and insurance.

The report assumes a buyer’s down payment is 20% and uses the lending standard that a monthly home payment shouldn’t be more than 28 percent of income. It relies on the National Association of Realtors’ quarterly data for single family home prices, and excludes condos and co-ops.

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About justgngr

the ramblings of a medical professional by day, judgmental ginger by night
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