Household TC: 300K before tax
Down payment: 400K.
Location: SF Bay Area.
No debt.
No kids.
Affordability from Zillow: approx $1.7M.
Affordability from redditors: max $1.3M.
(From posts from folks with similar TC and down payment).
Are redditors generally more conservative in their calculations? Or are online house affordability calculators more aggressive? Online calculators typically use 36% nominal, 42% max debt to income in their calculations.
Edit: playing devil’s advocate here. I see a lot of comments about Redfin and Zillow benefiting from me buying a house and so showing a larger mortgage affordability. But same is true for calculators on nytimes or other sites not selling me a mortgage or a house.
Submitted May 06, 2021 at 09:01PM by tickerdesh https://ift.tt/3h55TLp
