I make 3000 a month?

Question

I make $3000/month and support 4 people.. Can I afford a 450,000 house?

Answer 1

Sure, if you can negotiate the price down to $90k.  Remember, 2.5x your income.

Answer 2

If you have a 400k down payment for it you can.

Otherwise you will need to get a better paying job (should anyway) to pay for that.

Answer 3

YOu afford a $115,000 house.  But don't let that stop you.  If you want the big house, i bet some lender will give you the money.

Answer 4

No! The monthly payment on a $450,000 house, providing you put nothing down, would be around $2600. This doesn't take into account additional costs such as property taxes and insurance.

http://www.mortgagecalculator.org/

Answer 5

Sorry, but NO.

If your loan is for a $450,000.00 Mortgage at a fixed interest rate of lets say 5.750% for 30 years your monthly payment would be $ 2,626.08  

You would have to make at least $7,000 monthly to be able to afford that kind of mortgage.

Answer 6

DEFINITELY   NOT!!!