What price range of a house can i afford for 60k a month? (not renting)?

I'm just curious. If i wanted to buy a house.. (not rent). I want the payment to be 60k a month. What (about) price of a house could i buy if i wanted it payed off in at least 10 or less years?

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  • Stu
    Lv 5
    9 years ago
    Favorite Answer

    If you've got what it takes to afford a $60K/month payment, you've got what it takes to know what you can afford, and want to spend. In any event, it will depend upon how much your property taxes are wherever you'd like to live, and in that price range, that can vary CONSIDERABLY.

  • 9 years ago

    With a mortgage payment of $60k/month, assuming no other expenses or that you actually make $200k like your question above asks about, you would need to take home $180k/month, roughly.

    A mortgage of about $5.2 million is about $60k/month at 7% interest for 10 years. That's not counting any escrowed expenses like insurance or taxes.

    Rough estimates say that with a $2.16 million income, you'd potentially be able to afford about $6.5 million in a home.

    If this is actually what you make, you need a SERIOUSLY good attorney and agent to help you. Most people that make this kind of money can spell "paid" and are not on this website needing financial advice.

  • Rick B
    Lv 7
    9 years ago

    At 60k a month for 10 years you could buy a four or five million dollar home.

  • Kerry
    Lv 6
    9 years ago

    workin w/60 000 a month, you can just about move anywhere you want....cuz thats what you wrote

    up there in the question..not too shabby...many wish they were able to be that concerned

    working with that $..........Nice

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  • 9 years ago

    $60,000 a month? Did I read that correctly?

    Sixty THOUSAND DOLLARS per month?

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