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How much do you need to make to afford a 700k house?

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If you are able to make a larger down payment, say, 20%, you 'll need less income to qualify for your $700,000 home because you 'll have a smaller loan and no mortgage insurance. You 'd need at least $8,300 monthly income to qualify for that loan. Your monthly payment, including taxes and insurance, would be about $3,650.
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