$200k/yr can "easily" pay for $1.5m home purchase? The general rule-of-thumb for how big of a mortgage you can afford is in the range of 2-3x your gross income

$200k/yr can "easily" pay for $1.5m home purchase? The general rule-of-thumb for how big of a mortgage you can afford is in the range of 2-3x your gross income. [1][2][3]. You're talking about a staggering 7.5 multiple, assuming no down payment. Yes you can accrue a nice down payment after a couple years with that salary, but it's hard to make a huge dent in $1.5m. [1] https://www.investopedia.com/articles/pf/05/030905.asp https://www.investopedia.com/articles/pf/05/030905.asp [2] http://time.com/money/collection-post/2792048/how-much-should-i-spend-on-a-house/ http://time.com/money/collection-post/2792048/how-much-shoul... [3] https://smartasset.com/mortgage/buy-a-home-for-2-5x-your-salary https://smartasset.com/mortgage/buy-a-home-for-2-5x-your-sal...