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These are the numbers to keep in mind if you want tobuy a house in New Yorkin five years.
This sales price is notably from January, which is typically a slower real estate market for northeastern homes.
Aspiring homeowners should use a 3% growth rate when calculating inflation to gauge how much they truly need.
How Much Do You Need for the Down Payment?
Heres a look at both down payment percentages for the calculations.
A 20% down payment requires $177,628.
Home buyers can pay those costs right away or roll them into the mortgage.
How Much Do you better Save Each Year?
That comes to just over $3,333 per month.
That comes to $500 per month.
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