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Message
Average monthly mortgage cost of the MB?
Posted on 10/24/16 at 7:45 am
Posted on 10/24/16 at 7:45 am
What do y'all pay a month in mortgage? I am selling a current home which I was paying around $1,260 a month. Getting married and currently have an offer on a home in which we will owe about $1,700-1,800. We can afford the home, just makes me a bit nervous jumping up +$500.
21
Posted on 10/24/16 at 7:53 am to GeauxTime9
About 8 percent of pretax income.
Posted on 10/24/16 at 8:11 am to GeauxTime9
$0.00
Posted on 10/24/16 at 8:14 am to jmtigers
12% pre tax income here
Posted on 10/24/16 at 8:16 am to GeauxTime9
19% of after-tax income
Posted on 10/24/16 at 8:35 am to jmtigers
6% of pretax income
Posted on 10/24/16 at 8:41 am to GeauxTime9
We are at about 15% pre-tax income. But it is Texas and most of that is property tax (no income tax). We went from a sub 1k per month note to nearly 2k a month in Texas 
. Was a hard pill to swallow (although income went up significantly in the years since purchasing the first house). Other hard pill to swallow was our note going up another 200 per month due to an escrow error by the bank. Thank God my wife is getting raises 
.
. Was a hard pill to swallow (although income went up significantly in the years since purchasing the first house). Other hard pill to swallow was our note going up another 200 per month due to an escrow error by the bank. Thank God my wife is getting raises .Posted on 10/24/16 at 8:43 am to GeauxTime9
PITI is 11.8% of monthly pretax income.
That is the way to look at it... Actual cost isn't much of a figure... you need to look at affordability.
Is the new house larger in size? If so, keep in mind utility costs may go up as well, unless it is much better energy efficient.
If you and your new wife make about the same amount of money, then doubling your income while only going up around 50% in house cost doesn't seem terrible.
That is the way to look at it... Actual cost isn't much of a figure... you need to look at affordability.
Is the new house larger in size? If so, keep in mind utility costs may go up as well, unless it is much better energy efficient.
If you and your new wife make about the same amount of money, then doubling your income while only going up around 50% in house cost doesn't seem terrible.
Posted on 10/24/16 at 9:31 am to GeauxTime9
$0
Posted on 10/24/16 at 9:33 am to GeauxTime9
Property/Insurance/Mortgage = ~25% after tax income, 17% pretax
Posted on 10/24/16 at 9:48 am to LSURussian
quote:
$0.00
This.
Posted on 10/24/16 at 9:54 am to VABuckeye
Us too
Posted on 10/24/16 at 10:08 am to GeauxTime9
$1800 for just the mortgage or does that include any PMI, homeowners insurance and property taxes?
Posted on 10/24/16 at 10:14 am to GeauxTime9
<5% of pre-tax income.
Posted on 10/24/16 at 10:21 am to KG6
you got to pay for those massive high school football stadiums
Posted on 10/24/16 at 10:31 am to GeauxTime9
11% of pretax income (includes principal/interest/taxes/insurance)
This post was edited on 10/24/16 at 10:32 am
Posted on 10/24/16 at 10:33 am to Spirit of Dunson
Roughly 10% pre-tax income.
Posted on 10/24/16 at 10:51 am to GeauxTime9
18% monthly pretax income
Posted on 10/24/16 at 11:05 am to fillmoregandt
$1800 is everything. I ran the math and I'm about 16% monthly pretax income.
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