Forum: 0 Subject: Re: Buying a house - Affordability Sender: AB Date: 2018-11-06 20:18:51

How much you are trying to do down payment? There is close to 5% closing cost and misc expense. If you put 50k additional your loan will be will be 350k. EMI could be be around $2700 including taxes. value wise this is not bad as around 900$ will go to principal and will save tax and things like that. Overall value wise your expenditure might end up 1600$ which is close to what you pay rent. Value and cost is different !! You may need to think whether you can meet payment of 2700 per month for house only! You may also have some maintenance cost but that depends! 120k salary is boarder line. Depends how much you get in hand and what money you have right now! Hope this helps!

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