In 2024, you will be able to buy a million-dollar home in San Diego County with 3% down.
Thank you taxpayers!
What will it take to qualify for a $1,006,250 loan? The P&I payment at 7% is $6,695, and by the time you add PMI, property taxes, insurance, and HOA, the total payment will be around $8,733 per month.
It would take an annual income of $325,000 to qualify with only a car payment or two, and no other debts.
Hopefully those earning $325,000 have more than 3% to contribute to the down payment. But if not, it’s ok if you want to opt for the max mortgage interest write-off instead. What a great country!
