how to own a million dollar home
So if you wanted to buy a million dollar home you would need $200,000 down and finance $800,000 @ 6% is $4796 a month with around $800.00 a month for taxes and $100 for insurance for a total payment of $5696.00.It is recommend to be around 31% of a house payment to income so around $18,000 a month would qualify.. In order to afford million dollar house, the person require to earn a big amount of money. His income should be about 450,000 dollars to 500,000 dollars in a year ,depending on the person`s other expenditures ,his credits, no. of kids and other family members etc.