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What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $5,523
- Property tax
- $558
- Heat allowance
- $150
- Housing costs
- $6,231 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$192,000
gross annual household income
- Payment at 4%
- $4,541 / mo
- Cash down
- $215,800
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
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