0
0
0

What Income Does Your Client Need to Qualify for a Mortgage in Chicago?

by Peter Thomas Ricci

At the end of the day, how much income do consumers need to qualify for certain mortgages in our housing market?

qualifying-incomes-nar-research-existing-homes-october-down-payment

In our most recent analysis of housing affordability, we looked at what percentage of our housing market’s inventory was affordable to middle class homebuyers; how does that percentage, though, translate to the income a consumer needs to qualify for certain down payments?

To find out, we took a look at a fresh batch of data from the National Association of Realtors, which analyzed its latest existing-home sales report to find out that very information – and the results are quite interesting.

To see how our housing market compares to other metro areas, check out our graph below:

Read More Related to This Post

Comments

Join the conversation

New Subscribe

  • This field is for validation purposes and should be left unchanged.