Perfect Annual Salary? - Page 14 - TigerDroppings.com

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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Perfect Annual Salary?


My house was 150k, financed 100% with a a va lain. Loan amount is 153k.





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LSUBrad5277
LSU Fan
North Louisiana
Member since Jan 2011
12563 posts

re: Perfect Annual Salary?


Yes this includes escrow and no PMI.

This was a starter house for us when we were younger and moved to shreveport.

I have about 15 yrs left on the mortgage.

Our plan is too stay in this one until my son is 18 and then let him take over the mortgage and we are going to move to better area and look at a house around $200000 for 15 years.

By that time we will only have a car note assuming we get another one in the next 5-6 years, car insurance, and then monthly house utilities, and our mortgage until my son takes it over.

By then we should be bringing home around $6000 a month so we will be able to afford a new house






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Salmon
USA Fan
On the trails
Member since Feb 2008
28202 posts

re: Perfect Annual Salary?


quote:

250k is what? $1700?


should be around 1400 if you do not put anything down






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fishfighter
LSU Fan
Baton Rouge
Member since Apr 2008
18666 posts

re: Perfect Annual Salary?


quote:

I am looking at 250k houses and that is very modest for Nashville.


Do you need a big house? That has to be in the 2500 livin area. Bigger = more expense.

Also, if you are buying, don't wait interest rates are climbing each day.

And yes, with a low rate, I would go a 30 year note. I'm sure in the next 5 years, rates will be thru the roof again.






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LSUBrad5277
LSU Fan
North Louisiana
Member since Jan 2011
12563 posts

re: Perfect Annual Salary?


Rates right now are

Don't forget the bigger the house the higher the utilities usually.

Don't forget to factor in your city, state, and parish/counties taxes after homestead exemption.






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ell_13
USA Fan
Alex Box
Member since Apr 2013
23421 posts

re: Perfect Annual Salary?


quote:

wegotdatwood


I'm beginning to think you're my alter.

We bought a 140k home (144k loan) and financed it all through rural development loan. My rate was 5% when we bought, and I would have loved to refi at 2.4% for 15 years, but it made no sense if we were going to leave in 5-7 years anyway. The loan is down to 138k and we got it reappraised while considering the refi and it was valued at 150k. Values didn't change that much, but my FIL builds fences on the side. So we spent 1k on lumber and put in a (tiny) pond in the back as well.






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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Perfect Annual Salary?




Nice, I got in at the best time. 30 year 3.25%






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TheCaterpillar
LSU Fan
Nashville from BR via Oxford
Member since Jan 2004
36283 posts

re: Perfect Annual Salary?


I can't until 1.5 years from now in my estimation.

Hoping it doesn't shoot up TOO much. I am freaking out about that. My brother bought his last year at like 3.5 and I am so fricking jealous.






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aaronb023
LSU Fan
Boxtard Baseball Club
Member since Feb 2005
10568 posts

re: Perfect Annual Salary?


to me, the perfect annual salary would be 200k. I could live in the house I want, lease 2 cars (new car every couple of years), fund all of my hobbies, pay for 2 kids, and fully fund all of my retirement accounts without having to worry about money.





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ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
6358 posts

re: Perfect Annual Salary?


quote:

I am looking at 250k houses and that is very modest for Nashville. That 30 year mortgage is much higher than yalls.


I think I've asked before, but where are you looking in Nashville? There are an unusual amount of "pocket listings" out there, not being advertised by anything other than word of mouth. If you give me a little info, I can dig and see what's out there, it what I do!

Nevermind, see your 1.5 years out. My advice is save your $, our market is as solid as any in the US.



This post was edited on 7/30 at 7:18 pm


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