🔑 Can you afford to buy a house and have kids?
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A couple making $240k with $259k in savings wonders if they can afford a $625k house and two kids in daycare. It's a classic millennial dilemma: high income meets high housing and childcare costs. Let's run the real numbers.
Show Me the Savings 💰
They have $259k saved, mostly in a high-yield savings account. How much of that goes to the down payment?
Down Payment Amount
Cashflows 💸
Gross income looks great for a mortgage, but net income is what pays for daycare. They take home $13.8k monthly after taxes, health insurance, and a small retirement match.
Mortgage Terms 🏦
A $625k house with a 20% down payment leaves a $500k mortgage. Let's factor in current rates, taxes, and insurance.
Loan Amount
Debt Reality Check ⚖️
Lenders only look at Debt-to-Income (DTI), which ignores childcare. A lender will easily approve this mortgage, but your personal budget might feel differently.
Current DTI ratio
Monthly Budget Reality 📊
Principal & Interest
Taxes & Insurance
Total Housing Payment
Total Fixed Costs
🔗 See Also
Last updated by heyfinfam (v26.7.0) · View history
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