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re: My mortgage - FML
Posted on 10/10/12 at 5:35 am to YogaPants
Posted on 10/10/12 at 5:35 am to YogaPants
how much debt/bills do you pay each month (car note, insurance, student/personal loans, credit cards, cell phone)?
ETA: safe scenario: if you gross more than your mortgage a week then go for it. $67k/year. im no financial advisor but this should give you enough room to save if something comes up
ETA: safe scenario: if you gross more than your mortgage a week then go for it. $67k/year. im no financial advisor but this should give you enough room to save if something comes up
This post was edited on 10/10/12 at 5:57 am
2
Posted on 10/10/12 at 6:54 am to Geaux Smoke
If you make under $60k, I would not even consider it. Personally I wouldn't feel comfortable with that note unless i made over 80k but I tend to be on the safe side. Just remember, with a home, comes expenses related to the home. Also, do you have a car note or will you need a new vehicle anytime soon?
Posted on 10/11/12 at 3:34 pm to Geaux Smoke
quote:
ETA: safe scenario: if you gross more than your mortgage a week then go for it.
This guy gets it, 1 week's pay / 4 weeks per month = 25% maximum gross income to housing costs.
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