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No, it is not possible - assuming you make $200,000 a year, the most you qualify for is a mortgage of $600,000 - you would have tocome up with teh last $2.4 million in cash. And just so you know, a jumbo loan at 5.7% annually foro 30 years on $3 million brings with it payments of $17,500 per month. That does not include property taxes or homeowners insurance which would probably be another $1,000 or more a month, so $18,500 which is more than you make.

by Steve D

5 months ago

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