Your own Home

A basic house costs about $150,000. Interest.com provides an interactive site that calculates how much money it takes to qualiify for a home loan.

To convert annual salary to $/hour
divide quoted annual salary by 2000 hours
$20,000/year = $10/hour

Adjust expenses to reflect car payments, household expenses, credit card debt and college-related debt.

To buy a basic house with...

  • Modest debt requires $24/hr or $48,000/yr
  • $450 Student Loan requires $30/hr or $60,000/yr
  • $600/mo Child Support requires $40/hr or $80,000/yr
Few new college graduates earn $40/hr.

Owning a house is a
long-term investment.
Renting costs less and makes
moving easier.