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re: Salary to mortgage ratio?
Posted on 2/7/19 at 1:59 pm to PortHudsonPlaya
Posted on 2/7/19 at 1:59 pm to PortHudsonPlaya
WTF?
Who upvoted this shite?
Who upvoted this shite?
0
Posted on 2/7/19 at 2:03 pm to fallguy_1978
In my wife's hometown it's a million bucks to get a starter type home. Yeah, you make more but you damn sure spend large % of your salary on the mortgage... her parent can't understand why we want to live in philly instead their rich town on long island.... we cant, that's why.
Posted on 2/7/19 at 2:08 pm to TheWiz
Factoring in our effective (Federal + State + Local) Tax rate of ~ 29%, the percentage of mortgage’s annual amount to our actual post-tax annual income was around 8.5%.
Posted on 2/7/19 at 2:16 pm to elposter
My mortgage vs gross income is 18.7%
Posted on 2/7/19 at 2:19 pm to PortHudsonPlaya
18% of take home pay (salary minus taxes, health ins and retirement funding)
Posted on 2/7/19 at 2:35 pm to cuyahoga tiger
Zero point zero percent, but there is still insurance and taxes counting those it is roughly 3.5% of our post take income. We have a very small mortgage on our vacation house, instead of paying it off we paid it way down but keep a mortgage just for credit purposes, it along with those taxes and insurance is about 2.5% so a total of ~6% post tax.
Posted on 2/7/19 at 2:38 pm to PortHudsonPlaya
We pay 9% of gross for housing.
Posted on 2/7/19 at 9:46 pm to PortHudsonPlaya
So you spent about 250K on a house assuming you have a 30 year mortgage. That puts you payin g around 600 to 700 a month in interest up front for the first half of the loan. Should have bought less house and paid off sooner. Turn it to rental and let someone else pay you dream mortgage. That would have raised your income to about 200K a year.
Posted on 2/7/19 at 9:49 pm to PortHudsonPlaya
I make more than you. Ha.
Posted on 2/7/19 at 9:55 pm to PortHudsonPlaya
My property tax runs about $900/month. I pull in around $40k/yr. - you should be good.
Posted on 2/7/19 at 10:14 pm to jmorr34
Jesus Christ. How do you people make so damn much? It’s a struggle just to find a company willing to give cost of living raises these days
Posted on 2/7/19 at 10:21 pm to PortHudsonPlaya
Mines at 16% of gross and I feel like that’s high. I couldnt imagine being 25%+
Posted on 2/7/19 at 11:04 pm to jcaz
I agree. No raise in two years. Down market.
Posted on 2/8/19 at 1:15 am to elposter
quote:
I believe the rule of thumb is like 28% of your gross income
That seems really high to me.
It's really not. People get into trouble with money with expensive vehicles or credit cards. Or eat out every night and live way outside their means. A 30% or lower ratio should be fine. My wife and I are around the 10% mark, but our next home could be closer to 20%.
A house could potentially be a great investment if it's going to be in St. George baw.
Posted on 2/8/19 at 4:09 am to PortHudsonPlaya
On a good year, I make about $3.6 million.
My mortgage is $1236. Because why splurge?
Truck note is $735. Nuts were included.
My mortgage is $1236. Because why splurge?
Truck note is $735. Nuts were included.
Posted on 2/8/19 at 6:14 am to jcaz
quote:
How do you people make so much?
Dude. It’s the OT. You know damn well most are lying out their asses. Most probably make under 50,000.
This post was edited on 2/8/19 at 6:15 am
Posted on 2/8/19 at 6:18 am to PortHudsonPlaya
quote:
Post you annual salary
quote:
mortgage payment?
Nice try Mr. IRS agent looking to score a bonus after being out of work for the government shutdown....
Posted on 2/8/19 at 6:28 am to jmorr34
quote:
28%
I'm at 16% with what I pay monthly, which is a good bit over minimum
Posted on 2/8/19 at 5:55 pm to TheHarahanian
quote:
Yeah, with these numbers I'd feel impending doom every day.
Posted on 2/8/19 at 6:47 pm to Carson123987
0% of my salary goes to my mortgage. And it's glorious.
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