this post was submitted on 30 Aug 2023
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1/5th of my annual income with a degree and 6 years degree related experience. It'd be less if I could save up a down payment and get a mortgage.
A house is 1/5th of your annual income and you can't save up a down payment?
A 20% down payment for you is only 2 weeks of your salary.
You could save income of about 6 hours worth of work each week to have a 20% down payment in a year
With an FHA loan, a down payment is 0.6% of your annual income.