How Much Do I Need to Make to Buy a $400k House?

What does it cost to buy a home today? What income do I need to buy a $400,000 house today? How Much Do I Need to Make to Buy a $400k House? What will happen when interest rates drop to 7%, 6%, 5%, or change?
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[@OhMyMemories]

we make about 130k together, we just bought a 300k house, we put down 80k, 15-year at 6.3%, our payments are 2300$ a month, we have both our cars paid off. we have done 20k in renovations.

[@davidfolts5893]

Awesome analysis. Your vids are great, well thought out, and well illustrated using the whiteboard. I hope more people become aware of your channel!!

[@kelvinrojas215]

Thank you

[@ELconomics]

FHA is mip (mortgage insurance premium) .... conventional conforming loans has PMI (private mortgage insurance)

[@ELconomics]

Great breakdown though Sir

[@alone3885]

Thanks for the vids, I've been binge watching them all.
Is it always smarter to pay the 20% down payment instead of getting an FHA?
While leaving that down payment in the market?
For example, if you have 200k in a taxable brokerage and leaving it in there instead of
putting down the 80k in this 400k home scenario?

[@financial_freedom101]

You can put 5% down conventional or 3.5% FHA, but you will be paying a few hundred dollars extra per month in PMI or MIP. If you put 20% down it avoids PMI and MIP. The added costs eat away the potential gains in returns. I put down 20% and plan to pay my home off in under 15 years. I understand that more money can be made in stocks, but you also have more risk in stocks and need to live somewhere.
All investments carry risk and can lose value.

[@truh_von_tay]

First. 😂