homes

Would two NY or CA RNs be able to afford a $600,000 home. Lets say they make $75,000 a year 150,000 combined before taxes. And if they couldnt afford it would how much would they need to save before they could afford one. This is just a question i just want to hear your thoughts.
Nurses in CA who want to own a home pay that kind of money all the time. You have to have good credit to get the mortgage.

Right and a huge downpayment

Contact a financial counselor or a good realtor.

Right i just wish i had a better understanding on what RNs made on average in NY and CA

California is diverse. There is no average. A girl I work with, her boyfriend who is a nurse just got a job 5 hours away that pays $25 MORE and hour and the cost of living is not really different.

In CA the trick is to get a job. In some areas, wages have been lowered by employers, and some employers continue to lower wages, so one can not always rely on previously obtained info. Better to specifically inquire.

They would, if they were fiscally responsible, need a 20% down payment. 600,000 X .20 = $120,000 down payment. Secondly, an NYC RN probably doesn't make what an upstate NY RN makes, and a rural CA RN probably doesn't make what an LA RN makes. These are big states, with lots of space, and LOTS of nurses. There is no generalizing what the nurses there make. If you're trying to choose between the two, there's one place you'll always make the most money: which ever state holds the facility that's offered you a job.

I don't mean to sound offensive, but that sounds like way too high of a debt load. It would take away so much of your income, just for the mortgage, taxes, insurance, and leave you with nothing to buy groceries or pay the electric bill with.

I love the information you guys are giving me. Please keep it up. Thank you for all your information

Affordable Home Calculator from CNNMoneyThis will tell you how much house you can afford.And let me Google RN salary in NY for you:Let me google that for youAnd in CA:Let me google that for you

dang, according to that cnn calculator I should have 4x the house I am in now. lol..... I cant imagine spending $500k on a house in San Antonio, I would be in the some of the most upscale neighborhoods around here.....I stayed way within my means. Why would you want to have so little disposable income with a huge house payment. I like to travel and go places with my family so that was my priority over my home price. My monthly payment is $900-1000 a month depending on my escrow that year. I almost upgraded homes last year but came to my senses and didnt buy the $400k home. I like to have $1000-1500 a paycheck to blow on whatever I want after my bills are payed....

oh and at $150k gross salary your take home every two weeks would be around $4-4500 after taxes and medical insurance are deducted. Your realistic house payment on a $600k home would be around $4500/month. You would be making plenty to afford that home, I know because that is what I make. Well I make $130/yr and my wife fills in the rest. If you stay within your means and dont build up CC debt or drive $100k cars you will be great.