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re: What is the “normal” ratio of mortgage loan vs annual income?
Posted on 2/22/21 at 10:15 pm to tigersfan1989
Posted on 2/22/21 at 10:15 pm to tigersfan1989
quote:
If youre married single earner and have 3 kids then I wouldn’t consider that low that is probably around where someone would need to be
Making $100K with 5 exemptions, you’d be bringing in over $6,500 after taxes. Even with only 3% down, you’re looking at under a $1,500 payment.
Save $1K a month for retirement. Still leaves over $4K for living expenses.
I’m not gonna encourage someone to spend more, but I agree with the poster that it seems low.
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