- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: What percent of your Net Income goes to your mortgage?
Posted on 5/8/19 at 4:28 pm to white perch
Posted on 5/8/19 at 4:28 pm to white perch
quote:
I’d much rather have a modest house with easier upkeep and maintenance and spend more of my money on travel and life experiences
I'm not sure what that has to do with financing a home. If nothing else financing a home allows you to spend more on travel and such.
0
Posted on 5/8/19 at 4:41 pm to Not Cooper
Less than 18% goes to rent
Posted on 5/8/19 at 4:42 pm to fightin tigers
I’ve done okay.
Posted on 5/8/19 at 4:47 pm to Not Cooper
17%
Posted on 5/8/19 at 4:47 pm to Not Cooper
0.
And once that came to be, my ability to buy other properties and build wealth went out of sight- as it should.
Not talking chit either, because I paid my dues just like everybody else-it's what we all strive for- and lemme tell ya:
When I licked the adhesive on the last envelope so I could mail off the last check, I swear to you that it tasted sweet as honey, and still does.
And once that came to be, my ability to buy other properties and build wealth went out of sight- as it should.
Not talking chit either, because I paid my dues just like everybody else-it's what we all strive for- and lemme tell ya:
When I licked the adhesive on the last envelope so I could mail off the last check, I swear to you that it tasted sweet as honey, and still does.
Posted on 5/8/19 at 4:49 pm to fightin tigers
quote:And some just want their money to work for them and be able to retire early
To each their own. Some people get joy from seeing how high they can get a bank account they will never spend.
Posted on 5/8/19 at 4:52 pm to TheWiz
Whoops. Did gross earlier. It's 9.7% of net pay not 5.8%.
Posted on 5/8/19 at 4:59 pm to TheWiz
I'm at 18.2% of net for Mortgage, Escrow and Ins.
This post was edited on 5/8/19 at 5:00 pm
Posted on 5/8/19 at 5:04 pm to Not Cooper
Depends on your situation.
Other loans or debt? Paying off a car or education?
Have kids or other major expenses?
In a field where rapid salary growth is the norm and this is the floor of your earnings?
Are you a home body or someone that likes to go out on weekends and travel frequently?
If answering favorably to those you may be willing to stretch a bit higher than someone else. There’s no golden rule that applies for everyone but in the 30s is about the highest i would want to go even if I prefer staying home, don’t have many expenses and expect career growth
Other loans or debt? Paying off a car or education?
Have kids or other major expenses?
In a field where rapid salary growth is the norm and this is the floor of your earnings?
Are you a home body or someone that likes to go out on weekends and travel frequently?
If answering favorably to those you may be willing to stretch a bit higher than someone else. There’s no golden rule that applies for everyone but in the 30s is about the highest i would want to go even if I prefer staying home, don’t have many expenses and expect career growth
Posted on 5/8/19 at 5:07 pm to Not Cooper
quote:
My question to you fine folks is what percent of your net income goes to mortgage
19.4% not including income from bonuses or other non-guaranteed income.
Posted on 5/8/19 at 6:06 pm to Not Cooper
We’re at 17%, but no vehicle or student debt for either of us so we’re dumping a lot into retirement right now.
Posted on 5/8/19 at 6:12 pm to Cotten
28% of my income, 21% of our income.
Posted on 5/8/19 at 6:14 pm to jpainter6174
20% including escrow. We also have $300 / month in student loans. With kids we are still able to vacation once a year, but money is tight after saving in 401k and Roth.
Posted on 5/8/19 at 6:19 pm to yellowfin
I'm sitting at 11% but not including insurance or property tax. According to some, I should be living in a house 3 times as fancy.
Posted on 5/8/19 at 6:23 pm to Not Cooper
Serious answer 5%
This post was edited on 5/8/19 at 6:23 pm
Posted on 5/8/19 at 6:23 pm to specchaser
25%
Posted on 5/8/19 at 6:30 pm to go_tigres
25% but I feel trapped in a job that I can’t stand and my wife and kids love the house. We still have the money to pay for two international trips this year but I want to buy a fricking trailer in the country and work one day a week. The stress is going to kill me.
Don’t let your ego wreck you.
Don’t let your ego wreck you.
This post was edited on 5/8/19 at 6:35 pm
Posted on 5/8/19 at 6:33 pm to Not Cooper
Less than 16%
When deciding what you can afford, figure out how much you want to pay each month and how much you want to put down. DO NOT ask the lendor what you can afford
When deciding what you can afford, figure out how much you want to pay each month and how much you want to put down. DO NOT ask the lendor what you can afford
Posted on 5/8/19 at 6:39 pm to Not Cooper
Right around 28%
A little higher than I'd like but in months of searching we didn't find anything close our house's value to us.
Going cheaper either meant a house that needed a lot more work than we were willing to put in, or a significant step down in neighborhood.
Got lucky we lost out on two other houses we put offers on because both were step downs from what we ended up getting.
Eta: 28% includes mortgage, insurance and taxes.
Principal and interest alone is closer to 20%
A little higher than I'd like but in months of searching we didn't find anything close our house's value to us.
Going cheaper either meant a house that needed a lot more work than we were willing to put in, or a significant step down in neighborhood.
Got lucky we lost out on two other houses we put offers on because both were step downs from what we ended up getting.
Eta: 28% includes mortgage, insurance and taxes.
Principal and interest alone is closer to 20%
This post was edited on 5/8/19 at 6:42 pm
Page 4 of 8
Popular
Back to top
Follow TigerDroppings for LSU Football News