2 ms·
It will be worth it for people who have their own corps and can defer income across years. But will be really hard for a “normie” making $100k to afford a $1M h
by prepend 5y ago
It will be worth it for people who have their own corps and can defer income across years. But will be really hard for a “normie” making $100k to afford a $1M home even with this. Or I suppose impossible given that underwriting requirements won’t let their debt/income ration pass on a $900k mortgage.
So it may be impossible for an honest person to meet this. Maybe if someone does this right before getting married and then they have a wealthy spouse who can help pay the note.
The monthly p&i on a $900k loan is about $5k at 5%/30 years. So a $100k income can’t make that without some additional income sources.
- parkingrift 5y agoHa. Good point. Makes me actually wonder whether this was designed to be abused.