Well, I think you have a location problem. Look at the cost of a local home suitable for a family. Let's say it is on 0.3 acre, has 2500 square feet, and has 4

Well, I think you have a location problem. Look at the cost of a local home suitable for a family. Let's say it is on 0.3 acre, has 2500 square feet, and has 4 bedrooms. It is within a 20-minute commute. Consider the mortgage payment on a 30-year loan with a down payment of $40,000. No, you can't assume there is a second income. After paying taxes and that mortgage payment, what would the person have left? I hope it is something like $80,000 per year. I fear it may be negative. Conventional loans require that the loan payment not exceed 28% of gross income.