My partner and I make 500k collectively (thanks to Blind!) but we don't have much saved up.
Any advice on our target range for a house in Seattle and how much we should use as down payment would be much appreciated!
My partner and I make 500k collectively (thanks to Blind!) but we don't have much saved up.
Any advice on our target range for a house in Seattle and how much we should use as down payment would be much appreciated!
comments
Taking on additional pressure of a mortgage is not wise.
Would a $2 million house appreciate as much as multiple cheaper homes? (For renting, investment etc.)
2~4x annual family income in mortgage borrowing + 6 months mortgage in savings any time after paying the down payment in case both of us losing jobs.
Btw op, Both of the above are reckless advice, mine is just more obviously so.
I would take their number and reduce it by 20 to 30%, just to have more of a cushion, in case you or your partner our out of work.