How Much Home Loan Can I Afford by Salary (2024)

Welcome back to the State 48 Homeowner podcast! In this episode, Real Estate Broker Scott Kooiman and Steve Farrington from Unity Home Loans tackle the crucial question: "How much home loan can I afford by salary in Arizona?" They discuss the factors influencing home affordability, the benefits of homeownership, and the steps to take when considering buying a home. Steve shares valuable insights on loan options, property taxes, and the importance of getting pre-approved. Whether you're a first-time homebuyer or looking to invest, this episode is packed with practical advice to help you navigate the real estate market. Tune in to learn more about making informed decisions and achieving the dream of homeownership.
#homeaffordability #howmuchcaniborrow
0:00 Introduction
0:48 Why We Want To Own vs Rent?
3:34 Stable Monthly Payment
4:50 30-year Fixed Payment
7:36 Klaus Team Solutions
8:15 How Much Can I Afford - Four Scenarios
15:37 What Does A First-Time Home Buyer Look Like
17:52 It's Time To Get Started
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Since 2003, The Kenny Klaus Team has been serving the East Valley. Experts in Arizona Real Estate, with over 100 years combined real estate experience, we strive to exceed our client’s expectations.
The Kenny Klaus Team has consistently been ranked by the Wall Street Journal and Real Trends in the Top 125 teams in the U.S. since 2010. We have been voted Best Realtor numerous times by the Readers of the East Valley Tribune. Our Team are experts in Phoenix Arizona homes for sale including the surrounding communities such as Mesa, Gilbert, Gold Canyon, Goodyear, Apache Junction and the San Tan Valley.
Whether you are considering buying a home, selling a home or both, we know this area inside and out. We are experts in Arizona Short Sale and with Arizona HUD Homes. If you are hoping to avoid foreclosure, we have resources to inform and help you.
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480-354-7344
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www.KlausTeam.com
2919 S. Ellsworth Rd Suite 133 Mesa, AZ 85212
Equal Housing Opportunity

[@reagankooiman]

wow how insightful!!

[@Moving.To.Charleston]

Great conversation Scott and Steve 🏠14:28 To afford a $5450/month home loan, you need a household income of $150,000/year or more, with first-time home buyers in 2023 having a median age of 32, a household income of $97,000, a FICO score of 728, and an average down payment.

[@kraigklaus7038]

Thanks for sharing. Amazing info

[@TKKTAZ]

Glad it was helpful!

[@twilaedwards4251]

This info is super helpful!! Seeing the numbers is exactly what everyone needs to see.

[@TKKTAZ]

Glad it was helpful!