How do you know he can’t afford it? There’s not enough other information there to know that.
And try finding a home in Croton-on-Hudson, or within 60 miles of there, for much less than that that a family could fit in.
Well, a big clue is the fact that he couldn't afford a conventional down payment. "a planned package of two mortgage loans". He's was going with an 80-10 or an 80-20. See also the fact he was having to do an Alt-A even though his combined loans were under the cap for a conforming. P&I is going to be over 2500 a month; add on taxes and insurance and PMI, and his monthly payment will be in the $4-5,000 range. Now, if he devotes around 25% of his gross income for housing, he'd have to be making well over $100 an hour as a mechanic.