How to calculate the minimum down payment you need to buy a house!
🏠💰🔢 If you're just getting started and want to calculate what price range you can afford and how much you need to save for a down payment look below. Let me know if you have any questions! ✅💡
✅ Your estimated purchase price!
(Yearly income, multiples by 5= purchase)
example:
$100k per year X 5 = $500k purchase price
$70k per year X 5 = $350k
$200k per year X 5 = $1M
✅Your estimated minimum down payment.
(Purchase price minus 3%= minimum down payment) This is for a conventional loan.
example:
$500k purchase price - 3% = $15,000
$350k - 3% = $10,500
If you have any questions please let me know!
#homebuyingtips #downpayment #realestateinvesting #homeownership #financialplanning #homebuyingmadeeasy
SUBSCRIBE ☞ / @vegascarlos
➤ Social Media
Instagram → / vegascarlos_
Google My Business → https://g.page/r/CSQBldVa5SaREBA
Tiktok → https://www.tiktok.com/@vegascarlos?l...
➤ Contact Me
Carlos Rodriguez
Text me 📲 702-328-5657
Email ✉︎ [email protected]
Website: https://www.vegascarlos.com