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re: What percent of your Net Income goes to your mortgage?
Posted on 5/8/19 at 3:04 pm to LSUintheNW
Posted on 5/8/19 at 3:04 pm to LSUintheNW
5.9
1
Posted on 5/8/19 at 3:04 pm to Not Cooper
including insurance and property taxes escrow around 25.8%
Posted on 5/8/19 at 3:04 pm to Not Cooper
None, my house is paid off.
Looking to buy property in the Pacific northwest though. I'm sure that'll be fun.
Looking to buy property in the Pacific northwest though. I'm sure that'll be fun.
Posted on 5/8/19 at 3:06 pm to MikeBRLA
99% ( I like to live dangerously and I eat a lot of spaghetti )
Posted on 5/8/19 at 3:08 pm to Not Cooper
quote:
What percent of your Net Income goes to your mortgage?
My wife and I each put x into joint checking every pay period and that's what pays mortgage, utilities, etc. So my half of the mortgage comes out to about 18% of my net monthly pay.
This post was edited on 5/8/19 at 3:09 pm
Posted on 5/8/19 at 3:08 pm to LSUBoo
quote:
Before my wife's new job it was about 20% of our net income going to the mortgage. Now it's probably 15% or so.
Sugar momma
Posted on 5/8/19 at 3:12 pm to fightin tigers
About 26% covers both houses
Posted on 5/8/19 at 3:14 pm to Shotgun Willie
What is this mortgage that you speak of?
Posted on 5/8/19 at 3:14 pm to madamsquirrel
Hmmmm....12% using 2018 AGI
Posted on 5/8/19 at 3:16 pm to Not Cooper
17.5% of net here. 250k home that we like and can easily afford.
Listen to this part again: home that we like and can easily afford.
one the bloom is off the rose of that awesome house you overextended yourself for, you'll regret it. I promise. That 4" thick granite is nothing but a reminder that you fricked yourself when you can barely afford it.
One more time: Don't over extend. Please
ETA: I assume downvoters are house-poor saps who have to vacation in a baby pool in their back yard or something. It's cool if you are ok with it. I ain't mad atcha. Just trying to tell the young buck here that having the best house is not the key to a happy life. Comfort, security, satisfaction and flexibility however, are.
Listen to this part again: home that we like and can easily afford.
one the bloom is off the rose of that awesome house you overextended yourself for, you'll regret it. I promise. That 4" thick granite is nothing but a reminder that you fricked yourself when you can barely afford it.
One more time: Don't over extend. Please
ETA: I assume downvoters are house-poor saps who have to vacation in a baby pool in their back yard or something. It's cool if you are ok with it. I ain't mad atcha. Just trying to tell the young buck here that having the best house is not the key to a happy life. Comfort, security, satisfaction and flexibility however, are.
This post was edited on 5/8/19 at 3:49 pm
Posted on 5/8/19 at 3:20 pm to Not Cooper
19% covers note and escrow on a 15 year mortgage.
Posted on 5/8/19 at 3:22 pm to Not Cooper
I’m at a little less than 10%. I’ve been at the 20-25%, but that was miserable.
Posted on 5/8/19 at 3:29 pm to 777Tiger
quote:
What is this mortgage that you speak of?
It is a method of financing to own a home. It is for those that have enough credit so they aren't renting the rest of their lives.
Posted on 5/8/19 at 3:33 pm to go_tigres
9% goes to principal and interest. Don’t escrow insurance and taxes. Made a 3 extra payments last year. Probably won’t make any this year but next year should be back to 3.
HS and College expenses take up 20%.
HS and College expenses take up 20%.
This post was edited on 5/8/19 at 3:46 pm
Posted on 5/8/19 at 3:34 pm to Count deMonet
Roughly 20% of net goes to debt (house and vehicles)
Posted on 5/8/19 at 3:34 pm to Not Cooper
mortgage plus escrow puts me at 30%. With one kid it's livable, but only barely.
Posted on 5/8/19 at 3:35 pm to Not Cooper
about zero
Posted on 5/8/19 at 3:41 pm to Not Cooper
quote:
It doesn't make sense to me to use my gross income because a lot of that money I'll never see. I've seen a lot that you shouldn't exceed 36% of your gross income in debt. That seems like an absolute shite ton to me.
You are a very smart potential first time home-buyer. I'm at 17% of net. It's very tempting to see friends and people around living in homes with all the new bells and whistles, but it's great peace of mind when your mortgage is within your means.
This post was edited on 5/8/19 at 3:42 pm
Posted on 5/8/19 at 3:42 pm to Not Cooper
quote:Your Mom something something my ball sack about something something something.
What percent of your Net Income goes to your mortgage?
Posted on 5/8/19 at 3:44 pm to RogerTheShrubber
quote:
What they'll approve and what you can actually afford are two different things.
Agree completely...when I was house shopping, my pre-approval was for far more house than I could afford. Fall for that and you will end up bankrupt.
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