Luxury Estate Affordability Breakdown

This 5 bed, 5 bath, 10,000 square foot estate is priced at just under $20

million dollars. Let’s crunch the numbers. You will need a 20% down payment

of roughly $4 million upfront. Using today's 6.19% interest rate, your principal and

interest is nearly $98,000. Add $18,300 for property taxes and $8,300 for insurance,

and your total monthly housing cost is a staggering $124,600. To comfortably afford this using the 28%

rule, you need to earn an annual salary of $5.34 million. Follow for more

breakdowns.