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I currently make 600K / year in SFBA and don't feel comfortable buying a home (2000+ sqft in a good neighborhood is 2.5M) We rent for $7K / month but our mort

I currently make 600K / year in SFBA and don't feel comfortable buying a home (2000+ sqft in a good neighborhood is 2.5M) We rent for $7K / month but our mortgage would be 14K a month if we bought. I am not sure how much money I would need to make to do this. My worry is that I lived through 2 recessions and we'd almost certainly lose everything if I lost my job and couldn't afford the mortgage.

Domenic_S 7y ago
With 20% down it should be "only" $12k for the PITI. If you like to keep your house payment at 1/3 your income then 12 * 3 * 12 = $432k/yr is what you need.
6gvONxR4sf7o 7y ago
At that salary, you should be able to save pretty quickly to put more than 20% down. Live like you're only making $150k/yr and you can buy a $2.5M in cash in a decade if you prefer a $0/month mortgage.