so I'm in ohio.
In 1980, the median family income in Ohio was $21,020.
In 1980, the median home value in Ohio was $44,900.
The median salary for full-time workers in Ohio is $48,262
The median home price in Ohio is $231,600.
if you took out a $250,000 mortgage, (small house .1 acre lot etc..) put $50,000 down, had no PMI and average to low taxes of around $3,500 a year, $1,500 yearly homeowners insurance,
$1,906.76 is your monthly payment.
At the end of 360 months you will have paid $686,434.45 on that 200k house.
To even qualify for the loan By The standards you would have to make more than 80 thousand dollars a year. You would have to be able to show you have zero debt, including student loans Or anything else.
RIP