How much can I afford for a SFH in California

3 Replies

Hello, I'm trying to figure out how much home someone can QUALIFY FOR SAFELY as a primary residence with approximately 400k annual income and 100k as a down payment. Other monthly debt obligations are 3.6k/month in other properties and student loan debt. Any guidance would help. thank you

Originally posted by @Kabir Nain :

Hello, I'm trying to figure out how much home someone can QUALIFY FOR SAFELY as a primary residence with approximately 400k annual income and 100k as a down payment. Other monthly debt obligations are 3.6k/month in other properties and student loan debt. Any guidance would help. thank you

Kabir,

Call any lender on Monday; he or she will be happy to have this conversation with you!

Best,

Jon

 

There are dozens of calculators out there that could give you a good idea. Back of the envelope, if $100,000 constitutes 3.5% of the purchase price as per an FHA loan, then you are good for about $2,850,000 - a basic rambler in Palo Alto or an entire town in Imperial County.