In the market for a new home?
HSH.com crunched the numbers to determine how much salary is needed to afford the principal, interest, taxes and insurance payments on a median-priced home in 27 metro areas across the U.S.
In metro Atlanta, with a 30-year fixed mortgage rate of 4.10 percent, you would need to earn at least $39,393.11 annually to afford a $178,900 home ($919.17 monthly payment).
A 20 percent down payment on the home would be $35,780. According to HSH.com, if you only put down 10 percent down ($17,890), you pay less on the front end. However, you would then need to earn $45,628 annually to cover the larger loan.
Click here to find out more about the analysis, and for salary requirements in other metro areas.
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