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Real Estate
Reply to "The seven paths to DC-area home ownership"
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[quote=Anonymous][quote=Anonymous]$156K is a good salary for the region. $375k on that salary is too conservative. Even with a 5% mortgage and 0 down, 30 year fixed on that is $2k a month. Add in 350 for taxes and insurance and you are looking at only 18% debt to income ratio, *FAR* shy of the 28%-33% ratio that most people subscribe to. Using 28% as a ratio, your "affordability" figure jumps to about $580k, which can buy you a nice townhome in Fairfax, or even a single family in some of the older but still nice neighborhoods like Burk. I am not a Realtor, just someone who has done enough of these types of calculations to know when people are over/under extending themselves. [/quote] you're out of your damn mind[/quote]
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