<prompt> Human: I make 160,000year and have about 40,000 in savings. I also am a disabled veteran with the VA housing loan insurance. Have any of you done this before? ...Is this possible? Or am I an utter moron.??Also, I live on Capitol Hill. If I want to stay here I dont want a million dollar house I need a million dollar house. The market here is ridiculous...  <response>: Absolutely too expensive for your income. Lets run some extremely favorable numbers and see how it works out.Lets say you put down the entire 40k as a down payment. Lets also assume extremely favorable interest rate of 3.5 and a conservative 1 property tax. Amount financed: 960,000 Interest rate: 3.5 Mtg payment per month for a 30-year fixed: 4,310.83 Monthly property tax at 1 of 1M: 833.33 --- Total monthly payment: 5143.33 Gross monthly income: 13333 Home costsgross income: 38.5This is BEFORE any homeowners insurance costs which will be high to insure a 1M home, HOA costs, repairs, utility bills, and PMI since you will not be putting down 20.You will be financing a house that is worth 6 times your income. The general consensus is not to buy a house that exceeds 3 times your income. 