FundRobot » Growth Fund » If I need a home loan of 86,000 dollars, how much would I need to make a year?

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Default if i need a home loan of 86,000 dollars, would i need to make a year

if i need a home loan of 86,000 dollars, would i need to make a year. if i need a home loan of 86,000 dollars, would i need to make a year

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Default if i need a home loan of 86,000 dollars, would i need to make a year

With not other debt, at least $30,000.00 a year.
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Default if i need a home loan of 86,000 dollars, would i need to make a year

About $30,000 gross.
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Default if i need a home loan of 86,000 dollars, would i need to make a year

Lucky you! You only need to make $30,000 a year. Can't buy a kitchen in my city for $86k, so I'm a bit jealous! LOL
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Default if i need a home loan of 86,000 dollars, would i need to make a year

$27,650 AFTER TAX.
( I cheated i used the online calculator for you based on the mortgage being over 25 years and you having a 5% deposit.

My top tips for having your own home:
Have it checked every year - and get any damage repaired quickly - it works out FAR cheaper.
Put aside money into a RESERVE in case you wake up with no roof.
Put aside more money to pay the mortgage if you are taken ill / off work.

BEFORE YOU BUY TIPS:
You should be looking for a property where you can more or less move right in.
If it needs work - Have that money sitting in an account - do not count it towards any deposit - its a safe fund for work that may be required.
This does not suit everyone - but some find taking in a lodger in the first few months can cover things like home improvements and paying a little extra into the reserve fund - and putting a little aside in case you cant pay your mortgage.

Never touch the emergency fund, let your kids inherit it intact - and tell them to keep it topped up too.
The emergency fund will have a seriously high amount of money - DO NOT TOUCH IT.

if at any time your reserve mortgage fund = the total mortgage - PAY IT OFF IN FULL (bite any early close fee - its still cheaper than letting it run for the full 25 years.

Your income over time will increase - live a great life, and if you even consider my advice you wont worry too much about your home and can worry about the important things, like how many people are coming for thanksgiving and what you need to get for xmas.
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Default if i need a home loan of 86,000 dollars, would i need to make a year

Imortgage prequalified me for 100k and I make a little under 30k
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