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Message
re: Mortgage Amount 2-2.5x Annual Income
Posted on 4/13/22 at 9:02 am to OleVaught14
Posted on 4/13/22 at 9:02 am to OleVaught14
quote:Holy shite. The principal of my mortgage is 1x our combined household income. It's plenty of house for us, in a great area. We did put a decent chunk of change into renovations, but no loans for that.
Over the last year it seems like more people are really stretching this to 3-4x annual income.
My wife and I both make a bit more than when we bought the house 2 years ago, but it was still <1.25x at that time.
This post was edited on 4/13/22 at 9:04 am
2
Posted on 4/13/22 at 9:08 am to Jor Jor The Dinosaur
quote:
Holy shite. The principal of my mortgage is 1x our combined household income. It's plenty of house for us, in a great area.
Ok… congrats on making like $300-$500k/year?
This is just not the norm for 95%+ of homeowners.
Posted on 4/13/22 at 10:19 am to Jor Jor The Dinosaur
quote:
The principal of my mortgage is 1x our combined household income.
So you either bring home 400k+ (not the norm), or you live in a 140k shack (also not the norm).
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