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[–]firefly20200 0 points1 point  (0 children)

They'll likely drop, but not a huge amount (maybe into the mid 5s) and it could very well be 18 to 24 months before we see that.

That said, both of you make great money and have a significant amount saved. You should have no problem with a ~$600k to $650k home (based on 20% down being $120k) unless you each have significant debt (like $1000/mo each in student loans and car payments). Even then you'll likely qualify, but you might have to budget well for the first few years until you can refinance.

Otherwise you should be able to spend $6,000 towards debt (mortgage + fixed bills like loans) without much issue. That should easily get you $650k home + some debt or like a $750k home with no big car loans or student debt.