"It’s tough to afford even a starter home in much of California because even though residents tend to earn more money than some other parts of the country, it’s not enough to afford the state’s ultra-high home prices," Anderson noted. "Among the pool of starter homes on the market...
In Colorado, for instance, the map shows that you need to make more than $100,000 dollars a year in order to afford a home. That’s largely because of the Denver-area housing market, where the cost of living is much higher. The same is true of New York, where homes upstate are ...
Next, look at your big financial picture. You'll want to assess your financial stability, from your annual salary to how much you have saved for a down payment, to help you figure out how much home you can afford. Check yourcredit score. Lenders use this score (and other criteria) to...
So in this piece, we’re going to explore what salary you need to earn to afford a $600,000 home, what your down payment should be, where to find homes in this price range and more. We’ll also cover the risks of buying a (relatively) high-value home, today’s mortgage rates and...
New data from the California Association of Realtors shows the median home price in the Bay Area is nearly $1.3 million. Breaking it down by county, the data shows that to afford a home in San Mateo County, it now takes an annual household income of $364,000. That's also where...
Today’s buyers have more loan options than ever before. Get pre-approved and find financing tips for buying a home in Marin County California.
Step 2: Determine how much house you can afford Lenders generally recommend that people look for homes that cost no more than three to five times their annual household income if home buyers plan to make a 20% down payment and have a moderate amount of other debt. ...
The people who want to sell you a new car do everything they can to make it easy to take your money. It takes a great deal of self control to resist. Let's face it: everyone deserves a new car every couple of years, and if you can afford it, why not? Simple: because it costs...
Union Station in LA is a major transportation hub © Kit Leong / Shutterstock Take the train to revel in California’s beauty Amtrakoperates a fairly extensive rail system in California. There are long-distance trains that connect the state with other parts of the US and regional trains, whi...
1. Get preapproved for a mortgage Sometimes, home shoppers dive into their home search before they ever talk to a mortgage lender. But it’s smart to meet with a lender first, before you even look for an agent, to learnhow much you can affordto spend on a home. ...