HOW MUCH DO YOU NEED TO MAKE TO AFFORD A $2,350,000 HOME?

How much do you need to make to afford a $2,350,000 home purchase? Let's dive in. Okay, so at we want a strong Fico score, rights, and we're in jumbo territory. So let's put our purchase price down of 2,350,000. And again, because we're in jumbo, we need 20% down. So I'm gonna bring in $470,000 just for my down payment. Closing costs off your state, but the average right, I have right around $45,000 closing costs. If we assume the seller is not closing that in, we're bringing that in ourselves. We need to have minimum in our bank $515,000 cash to close. Now, for the payment, we're gonna look at the principal, interest, taxes, insurance altogether. Even if you pay taxes and insurance separately, qualifying that means out the door, we need to be the number, jumbo, there are lenders out there that are OK with a 50% income ratio. So I would be making $29,352 per month. Now, to qualify, is you the number, jumbo, there are lenders out there that are OK with a 50% income ratio. So I would be making $29,352 per month. We want to be I would recommend a factor of 2.5 of the monthly payment. This is more comfortable limiter. This is putting us into a bright area on what debt to ratio. 35% or under. Multiply by 2.8. If you truly passport to be in home $41,093 per month. Send me a DM if you like me to run your scenario