Quote:
Originally Posted by jackmeister
By the end of the year I should be able to have around 20% saved for a down payment.
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This is confusing. So do you plan on buying at the end of the year, or are you firm on the penthouse that mentioned in a later post?
Why are you asking on RS when the first thing you should be doing is going to your banks and asking them to see how much money you are qualified to borrow up to and then deciding based off of that how much you can afford with your $80K a year job.
Another thing to consider is that your $80K includes bonus which isn't guarenteed so the bank will look at gross without the bonus, whatever that number is. As well, have you been at your current job for more than 3 years? If not, then you might not have enough history/credit to apply for a loan without a co-signer. But all this is speculation until you actually go to your bank to see what they offer you.