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The average house
costs about
$150,000.
Interest.com
provides an
interactive site that calculates how much
money one must earn to qualiify for a home
loan.
To
convert annual salary to $/hr
__divide
quoted annual salary by
2000__
$20,000/yr = $10/hr
|
Adjust expenses to
reflect car payments,
household expenses, credit card debt and
degree-related debt. To buy a house
with...
- Modest debt requires
$24/hr
or
$48,000/yr
- $450
Student Loan
requires
$30/hr
or
$60,000/yr
- $600/mo
Child Support requires
$40/hr
or
$80,000/yr
Few new college
graduates earn $40/hr.
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Owning a house is a
long-term
investment.
Renting costs less and makes
it easier
to move if you need
to.
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