4 ms·

Nobody is mortgaging 10x their income. You'll have tough time getting 5x.

• renewiltord 6y ago
  That doesn't sound right. You can definitely get a million dollar loan with $250k down on a $200k salary. I'd say it's pretty common. My friends own homes and fall into that category.
  • rahilb 6y ago
    That’s 5x, actually less because of the deposit amount.
    • renewiltord 6y ago
      That's the point. > You'll have tough time getting 5x. 5x isn't tough. It's easy. In fact, better.com will give it to you right now.
      • qes 6y ago
        Ok, fair, but for the 80%+ of the U.S. that aren't high income earners 5x won't be as easy. I obviously didn't include a ton of nuance in my original post.
  • hatboxreappoint 6y ago
    Wouldn't that make it a $750k loan on a $200k salary? So 3.5x
    • renewiltord 6y ago
      No. A $1 million dollar loan. So that the house you buy is then $1.25 million. If you have the money, try it on better.com