For those who don't fit the traditional mold, alternative paths exist: How Do People Afford Million Dollar Homes? - HomeLight
High-net-worth individuals often don't want to liquidate their investments (like stocks or bonds) because they don't want to pay capital gains taxes or lose out on market growth. how do people buy million dollar homes
By keeping $2M in stocks growing at 8% while paying 5–6% interest on a loan, they essentially "make money" while buying property. 3. Jumbo Mortgages and Private Banking For those who don't fit the traditional mold,
Lenders typically demand a credit score of 700+ , a debt-to-income (DTI) ratio below 43% , and 6–12 months of cash reserves . a debt-to-income (DTI) ratio below 43%