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re: In the market for a house...
Posted on 5/8/24 at 10:57 am to JohnnyKilroy
Posted on 5/8/24 at 10:57 am to JohnnyKilroy
quote:Considering home costs extend far beyond the monthly mortgage, why does that surprise you?
You make over 160k and feel like you can barely afford a ~1400 mortgage payment?
2
Posted on 5/8/24 at 11:00 am to Scruffy
quote:
Considering home costs extend far beyond the monthly mortgage, why does that surprise you?
You should easily be able to afford a $1,400 mortgage (including taxes and insurance) while making 160k.
Posted on 5/8/24 at 11:00 am to Scruffy
quote:
why does that surprise you
Because the general rule of thumb for comfortable affordability is like 25-28% of gross income
He’s at like 10%. So yea it’s pretty surprising he feels like he can barely afford his mortgage when considering his PITI is that low.
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