Home Price to Income Ratio

Re:Home Price to Income Ratio by dfee on Monday September 20, 2021 @08:09PM (#28600612)

Is this true everywhere? Not that I think it’s a great idea to buy in the Bay Area, but a $3M 1800sq foot home for a family of 3 who works from home in a good school district… is that really available with 0% down?

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Re:Home Price to Income Ratio by eropple on Monday September 20, 2021 @08:16PM (#28600650)

Bay Area homes often don't qualify for FHA stuff due to price.

Other major metropolitan areas do OK, though. I put 5% down on my first house just outside of Boston and 10% at my current home (voluntarily, my mortgage broker asked for 6.5%).

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Re:Home Price to Income Ratio by ryathal on Tuesday September 21, 2021 @12:06PM (#28606489)

0% down is impossible for FHA or Fannie/Freddy, but it may be possible as a private loan or through grants that give you the 3-5% down required.

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