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Financial Times
How Much Salary By State is Needed to Buy a Home?
Imagine having to bring home $113.5K a year to afford a home?
May 22, 2017

$40,000 salary in Detroit should suffice, but $150,000 in San Francisco is not quite enough…This infographic details home costs per major metropolitan area across the US.

A report released by HSH.com, a mortgage advisory website based this on the premise that 28% of incomes would go towards a monthly mortgage payment, and also allowed for a 20% down payment, the national average. Thankfully mortgage payments span over a 30 year period. However, the down payment is due right away, before closing and needs immediate consideration if you are actively looking to buy a home. What you might not know, but should is that the down payment source is a sticky subject with lenders. Many sources do not qualify by the lender. While some people are “gifted” the down payment from a family member, and others are lucky enough to qualify for a no-down-payment loan, most find it difficult to come up with the traditional 20% down payment. FHA Mortgages, although considred a low-down-payment mortgage, at only 3.5%, still will run about $3,000 – $8,000 upfront and most loans do not qualify as a down payment source, except for asset-backed loans such as a Title Loan. If you own your vehicle (auto or motorcycle) you could qualify for a Title Loan. Find out how to get a Title Loan with an easy online approval process and often same day cash at Title Pro.

Find out more on how much money you need to make to buy a home in your area at HSH.com

Find out how much you can get for your down payment or other immediate cash needs today!

About Title Pro

Title Pro offers you a secured online loan at a competitive rate. You apply online, you get a decision online, and you complete the process online. It’s quick, it’s transparent, and it’s straightforward.

EXPERIENCE THE TITLE PRO DIFFERENCE.

Title Pro gives you the power to make your car’s equity work for you. We offer competitive rates and a convenient monthly payment schedule with a convenient online process. Fill out an application now… you’ll know the results today and you can have cash as soon as today*.

When you need a car title loan company, and need cash quick, we’re only a keystroke away. At Title Pro, we’re here for you when and where you need us most! Find out how it works & how much you can get.

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