Segelke Financial Group

Did you see the recent jobs report? Some positive news!

U.S. payrolls jump more than expected, but the report had several red flags for the economy Nonfarm payrolls were expected to increase by 55,000 in April, according to the Dow Jones consensus.

Jeff Segelke, ChFC gives an update on what is happening with the stock market and the economy.

Market & economic update May 1, 2025  A lot of uncertainty and fear has affected investors recently based on news about Tariffs. Jeff Segelke, president of JRS wealth management and Segelke finan...

This feels appropriate given today is tax day 😁

Here’s How Much you Need to Make to Afford an $800,000 House:

If you put a $160,000 downpayment (20%) and get an interest rate of 6.50%, your loan amount will be $640,000

That puts your monthly payment (principal + interest) at $4,045

You still gotta pay taxes, insurance & HOA fees.
- Taxes: $1,000/mo
- Insurance: $291/mo
- HOA: $150/mo

If you add up the monthly payment, taxes, and insurance, your total monthly payment will be $5,349.

Banks want make sure that number is less than 36% of your pre-taxed income. So to find out the income you need do this:

$5,349 ÷ 0.36 x 12 = $178,300.00

You end up with $178,300.00 – that’s how much you need to make per year to afford this $800,000 house.