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GOBankingRates
10 Cities Where It’s Easiest for New Homeowners To Pay Off Their Mortgage
By Gabrielle Olya,
22 hours ago
A good financial rule of thumb is to dedicate no more than 30% of your income to housing, but this can be a challenge as home prices rise and mortgage payments increase. However, there are some cities where the median household can easily afford the median mortgage payments for the area.
To find the cities where it’s easiest to pay off a home, SmartAsset analyzed mortgage data from last year for the 40 largest U.S. metro areas. The study determined the median principal and interest payments on a 30-year fixed-rate mortgage, which was then compared to the median income of new homeowners.
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