How much house can I afford if I make 3000 a month?
How much house can I afford if I make 3000 a month?
For example, if you make $3,000 a month ($36,000 a year), you can afford a mortgage with a monthly payment no higher than $1,080 ($3,000 x 0.36). Your total household expense should not exceed $1,290 a month ($3,000 x 0.43).
How much is a downpayment on a 300k house?
If you are purchasing a $300,000 home, you’d pay 3.5% of $300,000 or $10,500 as a down payment when you close on your loan. Your loan amount would then be for the remaining cost of the home, which is $289,500. Keep in mind this does not include closing costs and any additional fees included in the process. Feb 4, 2020
Do I have to pay mortgage insurance if I put 20 down?
When you put down at least 20 percent, you also typically won’t have to pay for mortgage insurance. Mortgage insurance increases your monthly mortgage payment. Jan 30, 2017
