no, thats pretty much dead on. you can afford, about at the most, about 5x your income. I went with about 4x my income, but I guess I like to do other stuff than just sit in my home and think how much I’m spending on a hut.
I think its funny how 411k is an “entry level home”. Not many people come out of college making 80k+, and 411k in SD is a townhome/condo generally. Also, the assumption of 10% down and using an ARM… didn’t they used to use 20% down and a 30 year? no wonder why we’re where we are now.