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re: How does a family do it financially
Posted on 6/5/22 at 5:45 pm to deeprig9
Posted on 6/5/22 at 5:45 pm to deeprig9
quote:18% of take home pay seems really low to me
18% of income on mortgage is kinda high imo
Let’s take someone making 175-200k a year. Their take home monthly pay is roughly10k. You telling me a mortgage of $1,800 would be high? That’s like a 275k house….
This post was edited on 6/5/22 at 5:46 pm
6
Posted on 6/5/22 at 5:47 pm to lsupride87
quote:
18% of take home pay seems really low to me
Our mortgage is 13% of our take home income.
Posted on 6/5/22 at 5:52 pm to lsupride87
Im not talking about take home im talking gross income like what lenders look at and I assume op was talking about.
Posted on 6/5/22 at 6:41 pm to lsupride87
quote:
mortgage of $1,800 would be high? That’s like a 275k house….
With bad credit or a high rate maybe. Also little to no down payment
Posted on 6/5/22 at 7:07 pm to lsupride87
Was just coming to say this. That’s literally almost exactly my stats. And it just gives my wife less money to blow on the first paycheck of the month. I pay more in childcare for my two kids than my $1800 mortgage.
Posted on 6/5/22 at 10:01 pm to lsupride87
quote:
Let’s take someone making 175-200k a year. Their take home monthly pay is roughly10k
Someone making 200k is not paying 80 in taxes. I live in a no income tax state, but still, there's no way.
Posted on 6/6/22 at 7:10 am to lsupride87
quote:
Let’s take someone making 175-200k a year. Their take home monthly pay is roughly10k. You telling me a mortgage of $1,800 would be high? That’s like a 275k house….
18% of take home on a mortgage isn’t a lot at all (ours is 22%), but if you bought anytime in the last couple years with good interest rates, and had a 20% down payment a $1,800 could be the mortgage for a 425k home.
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