Comment by panny

Most Americans pay a bare minimum payment, expecting the home "value" to appreciate 20% annually. If they can just make it the first two years, then they can live off the HELOC the rest of their days... I exagerate, but only a little.

My calculator is much easier however.

boolean houseIsAffordable(int price, int downPayment) { return downPayment >= price; }

Never had a mortgage, and I never will. I live within my means.