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I Love Twilight! | Could a good Lawyer afford this price for a condominium??? |
$1,395,000=the whole price.
how much would it be a month?
and could a good lawyer afford it?
Additional Details
I want to live in a condominium Skyscraper in
San Francisco!
or
New York City! |
 |
 
Lobo
 |
If you put 20% down and borrowed $1.1M on a 30 year fixed jumbo loan at 5.5% your monthly payment would be $6,246. You will need to add insurance and property tax to that monthly figure as well, so you're in the $6,500 range. Bump that up to $7,000 if you are looking at SF or NYC.
As for an attorney being able to afford that, it depends upon what practice area he/she is in and whether or not they are a partner in their firm.
If you used the general 33% rule, you'd need to be earning about $235,000 - $250,000 per year to afford that monthly payment. |
|
Alli*LOVES*Artie*Lange
|
Your monthly mortgage payment depends on how much cash you put down. But the usual answer is... if you have to ask, then you can't afford it. Depending on how much you put down, I think you need to earn about $250,000 a year to pull that off comfortably... assuming you want other nice things...like a car, clothes, vacation.... A good lawyer will make that after several years of practice, if he's a partner... etc. |
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Travis M
|
Yes, but only if he's a really good lawyer and eats all of his veggies. |
|
~::JAEL::~
|
the payments will be like 3500 a month or so so you'd have to make at least 11k a month to afford it |
|
llol
 |
doesnt matter if your good or not as much as it matter what type of clients you get and how much you charge and what type of law you practice
but if your a lawyer who makes a decent amount to a high amount i would say you could probably do it |
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Travis
|
most would want nicer,good lawyers dont want things that cheap.
my father works for munger, tolles, and olson...and hes still a cheap *** though |
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Eli B
 |
Well...I suppose a good lawyer COULD afford that.
The monthly fee would vary depending upon location.
EXTRA:
This is a trick question. There is no such thing as a GOOD lawyer. |
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robert w
|
an apartment for 1.395 better be a good location.
remember if u have to ask , u can't afford.
JohnD. Rockerfeller, i believe. |
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luchadore
 |
whether or not one is a good lawyer has no bearing on their ability to purchase property... |
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1Name4Me
|
Possibly.
More than you probably make.
He could sell crack... |
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Tameka
 |
I say the payment will be more like 12,000 a month. |
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needlewings
|
Maybe $1400. a month. Maybe. |
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