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Can i build a house making 40k a year

 
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Can i build a house making 40k a year?
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    Can you help us by answering one of these related questions?
    1. Can i buy a 500 000 house making 100 000 a year and 50 000 down payment?
    2. If i am making 40,000 a year in nc , how much do i end up making at the end of the year after taxes are taken out? i am married w a child?
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