if i make $70,000.00 a year in income, How much can i afford to pay for a house?
541922
The formula is roughly two and one half times your annual income so that would be 175,000.
83776
how many can you afford?
655545
usually 30% should go to housing*  what would 600 a month\nbuy  $750 a month would buy a house with no money down..\nlet me know **
1179007
Three family homes in my area go for 350k-450k on average.  (350k or 450k / 3 Apts)*1% = $1167 or $1500/mo\n\nSo in my area (north of Boston), I would say your formula fits.  But housing in MA is fairly expensive.  This rate may be too high for other areas were the cost of living is significantly lower.\n\nAs a rule of thumb this could be a good 'guesstimate' of what ball park you should be in; but you should adjust this for neighborhood area, quality of space, cost of living, and other factors.
46248
Home ownership is probably going to be your first obsticle. It is VERY competitive down here and you want to get yourself a good real-estate agent to find a house that is going to be in your price range.\n\nIt will depend on what kind of lifestyle you are used to living as to how much you will need to live in Orlando. I would say that living fairly comfortably $80,000/year is about what you would want to make but you could get away with making $60,000 if you skimmed in some places (didn't go out as much, ate at home, etc...).\n\nMost of the people that I know that live here in Orlando in the community that I live in are retired from other parts of the United States and make more money than what I do. I make a bit less than $80K but I just have my wife and myself. If I had four kids I would need at least $100,000 to live the life my wife and I enjoy now.
611686
You should start out around $55,000
1176193
It'd be tight, but definitely doable. I think the rule of thumb is one third of your monthly salary is suitable for rent.\n\nAssuming that your taxes aren't too high, you'd have enough each month to still put away $$$ for savings and retirement. Your biggest expense after rent would be your car payment, insurance and gas--see if there's some leeway there. Also, do you have to pay for your own health insurance? If yes, then you may have to put limits on things like going out to dinner, gym memberships, leisure activities, etc. \n\nHowever, if the apt is a place you can see yourself living in for a while, its worth tightening your belt for the first few years. Your salary should rise faster than your rent increases, so it may turn out to be a really good investment once you're making a lot more.\n\nGood luck!
121309
Be aggressive with your career goals and go after your dream job or career early.  When you are married with kids and a mortgage, you won't be able to take chances.\n\nAlways, always, always, live below your means.  If you make $3,000 a month, live like you make $2000 - $2500 a month.  Take the difference and start systematic monthly investing into a good growth or index mutual fund.  \n\nAt 25, if you invest $500 per month with a 10% return compounded annualy, when you turn 40 you will have $200,000 and when you are 65 you will have $2.8 million!
86578
Take a look at salary.com. You can get an estimate there.
599059
It depends on the place and your living standard. I believe that you can survive well with $3000 per month. Although people can also live below that. If you are student you need around $1500 per month.
248629
Your total monthly housing payment (including taxes and mortgage and insurance) should be about 1/3 of your take home pay.  So, you can figure your mortgage by what that payment amount would equate to!\n\n:-)
104932
If you have no debt, good credit rating, you make 18k a year and the house cost 55k.  I'm 99.9% sure you will get a mortgage.  \n\nYou may want to do 3% down mortgage, so try to get an FHA loan.  You will have to pay PMI but it will only be about an extra 30 bucks a month.\n\nYou can call your bank to get pre-approved right now!  Its free!  \n\nGood Luck!
205699
That depends on how much you expect to make and whether or not you have to pay state taxes also.  Not knowing this, I would say around 30% or more if your income is high.
736278
It really depends on the area in which you want to invest.  It can range from $150,000 all the way up to $750,000+.  What I really want to do once I get my finances in order is to flip houses, that is where the real money is.  =)
686904
it really depends on your location... in australia there's radio advertisement getting housing loan with minimum income 40,000 AUD per year... but i do not know where u from...
783094
Give us more information on your scenario. What other income do you have? How much do you owe? How much is it worth? Get into more detail and we may be able to help.
120408
That depends on many factors, including your state and local income tax rates.  However, you can use the tables at this site http://www.irs.gov/formspubs/article/0,,id=133517,00.html "backwards", to calculate the amount you'd have to earn before taxes to take home $35,000.