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re: Tired Of Pinching Pennies!!
Posted on 8/31/23 at 9:28 am to ThatsAFactJack
Posted on 8/31/23 at 9:28 am to ThatsAFactJack
quote:
Your math is a little off.
Thats 2500/month if his mortgage is 30% of $100k.
100,000(.30)=30,000/12=$2500
That is still ludicrous for that salary. When I was in that exact position ($100k/yr and family of 5 buying a new house), I kept my mortgage to <$1,100/mo. It will vary by location but that is why you can't have the same house standard anywhere you go.
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