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How To Know How Much House You Can AffordWith a 5% down payment and an interest rate of % (the average at the time of writing), you will want to earn at least $6, per month �. First time buyers maximum mortgage level is 4 times your gross annual income with the mortgage capped at 90% of the purchase price. To afford a $, house, you typically need an annual income between $75, to $95,, depending on your financial situation, down payment.
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