
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Two lawyers in big law can do this with 5-10% down if they don’t have significant student loans. Their household income could be 800k/yr, and they could have 100-200k saved.
Not at that young.
4th-year big law associate salaries are $310k base, so it's possible you have two people with zero student loan debt who both graduated law school at 25 and can afford a $2m house at 29 without parental assistance (and we are overlooking the fact that their parents may have paid for law school).
My spouse and I graduated from the T14 where we met with zero debt and zero parental contributions. Not common but not insanely rare either.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Two lawyers in big law can do this with 5-10% down if they don’t have significant student loans. Their household income could be 800k/yr, and they could have 100-200k saved.
Not at that young.
4th-year big law associate salaries are $310k base, so it's possible you have two people with zero student loan debt who both graduated law school at 25 and can afford a $2m house at 29 without parental assistance (and we are overlooking the fact that their parents may have paid for law school).
Anonymous wrote:Anonymous wrote:Two lawyers in big law can do this with 5-10% down if they don’t have significant student loans. Their household income could be 800k/yr, and they could have 100-200k saved.
Not at that young.
Anonymous wrote:Anonymous wrote:Two lawyers in big law can do this with 5-10% down if they don’t have significant student loans. Their household income could be 800k/yr, and they could have 100-200k saved.
Not at that young.
Anonymous wrote:Two lawyers in big law can do this with 5-10% down if they don’t have significant student loans. Their household income could be 800k/yr, and they could have 100-200k saved.
Anonymous wrote:Parents and grandparents money. Generational wealth transfer is here.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Most likely family money. DH and I bought a nice home 3 years out of law/grad school. Neither of us has student loan debt, and we had typical big law/business salaries, so it was easy to save a good-sized down payment in 3 years.
Partly this, partly family money.
Because yes, if you graduate without student loan debt and are making $200K+ each, you can choose to live off $150K and aggressively save the rest for 2-3 years and have $600K+ as a downpayment without any "family money" other than no student loan debt. And most likely someone who has no loan debt from law/medical school will also get some help with a downpayment.
But yes, if your income is $400K+, you have $600K+ as a downpayment, it is possible to buy a $2M home all on your own.
Those figures are a bit low for 6.5% interest rates. Now you’d need 400k hhi/1M down or 600k hhi/600k down
Anonymous wrote:Anonymous wrote:Parents gave them a downpayment and they make a lot, like $250-$400K+ - dual income, but it really depends on how much DP they got as a gift from the parents. Gotta get the mortgage before the kids come and mom goes part time.
They only have a single income and her husband works a government or contracting type job. So it’s weird. Idk how someone makes that much with only a few years work experience and in a government role