When it comes to purchasing a home, your monthly income is the most influential factor, surpassing even your credit score and available cash. Understanding how your income impacts your purchasing power is essential for aspiring homeowners. Let’s explore this concept with practical examples and actionable insights. Consider this scenario: You earn $100,000 annually, and based…
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Buying a home is a big financial decision, and affordability is the number one factor to consider. To determine how much home you can afford based on your income, you can use a simple formula… First, take your annual income gross pre-tax and multiply it by five. For example, if your annual income is $100,000,…
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