Can I afford a $700K house on a $150,000 salary?
Stretch territory. A $700K home with 20% down at 6.5% has a P&I of $3,538/month — about 28% of gross income. With tax/insurance you're at 33-35%, above the comfort zone. Doable if you have minimal debt and substantial savings beyond the down payment.
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Stretch territory. A $700K home with 20% down at 6.5% has a P&I of $3,538/month — about 28% of gross income. With tax/insurance you're at 33-35%, above the comfort zone. Doable if you have minimal debt and substantial savings beyond the down payment. The exact answer depends on your specific situation — the numbers above are a strong starting point, but the right next step is to plug in your actual figures.
For a deeper analysis, use one of the related tools below — they take your specific income, debt, location, and goals as inputs and produce a tailored answer.