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re: What is the “normal” ratio of mortgage loan vs annual income?
Posted on 2/23/21 at 8:30 am to Drunken Crawfish
Posted on 2/23/21 at 8:30 am to Drunken Crawfish
Our house was right at 2.6 when we bought it a few years back. Now it’s closer to 2.1 with our income increases. We are also prepaying a ton trying to pay it off before our kids get out of elementary school
1
Posted on 2/23/21 at 10:17 am to dltigers3
quote:
Our house was right at 2.6 when we bought it a few years back. Now it’s closer to 2.1 with our income increases. We are also prepaying a ton trying to pay it off before our kids get out of elementary school
Paying a mortgage off faster than necessary has been a losing strategy for any disciplined investor for decades, but that doesn’t stop anyone from doing it. The allure of being debt free is too strong to overcome for many.
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