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is 350k house on 150k HHI stupid?
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Date: March 23rd, 2019 2:57 PM Author: vibrant station (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37977574) |
Date: March 23rd, 2019 3:01 PM Author: Shivering hominid mediation How much can you put down? The question isn't how much the house is, it is how big the mortgage and taxes are. (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37977601) |
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Date: March 23rd, 2019 4:08 PM Author: vibrant station Only want to put down 20%
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Date: March 23rd, 2019 4:21 PM Author: Shivering hominid mediation ljl (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37977951) |
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Date: March 23rd, 2019 4:24 PM Author: vibrant station paying all cash is dumb
we could sell our stocks, etc. and buy outright, but that would be stupid |
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Date: March 23rd, 2019 5:10 PM Author: judgmental doctorate Putting over 20 at today’s rates is dumb and yes you should be fine on that salary. Assume you won’t top out there as you’ll be a little pressed if you have kids. (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37978103) |
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Date: March 23rd, 2019 5:17 PM Author: vibrant station cr, but free daycare bc relatives nearby and OK public schools
private schools are only 10k/yr but we would only send any kid to public school |
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Date: March 23rd, 2019 6:00 PM Author: nubile ruddy corn cake death wish That’s what, a $1200 mortgage payment every month? That should be comfortable on $150K HHI even with kids. (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37978245) |
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Date: March 24th, 2019 2:12 PM Author: vibrant station numbers below including jnsurance, taxes etc
i think we want to do 20 years at 2000 a month, including taxes, inaurance etc |
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Date: March 23rd, 2019 3:18 PM Author: nubile ruddy corn cake death wish Doesn’t seem bad to me. (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37977690) |
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Date: March 23rd, 2019 3:38 PM Author: 180 Pisswyrm 1. That doesn't seem like a stretch at all.
2. It's dumb when people make decisions based on just income and house price. How long will you live in the house? Is it big enough for you to have kids in? Can you send your kids to private school there? What is your current rent?
What you can "afford" varies wildly depending on if this is a huge house next to a great school and 5 minutes from your job with great job security vs if its some shit condo that is a 1 hour commute from a job you are trying to leave. |
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Date: March 23rd, 2019 4:09 PM Author: vibrant station The public schools are OK in the area. Catholic school only costs 10k/year.
Commute is 15 minutes driving.
Jobs are lowish paying but also low stress and relatively stable. |
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Date: March 23rd, 2019 3:42 PM Author: cyan stead kitty Anything less than 2.5 x HHI income should be attainable.
Monthly mortgage should be less than $2,500/mo. That's doable on $100k/yr anywhere except the most ridiculously high tax states |
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Date: March 23rd, 2019 4:10 PM Author: vibrant station At 15 years it is around 2300 to 2400. At 20 years it is arounf 2000 a month. At 30 yrs its probably 1700 a month. |
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Date: March 23rd, 2019 5:06 PM Author: aphrodisiac alpha plus taxes and insurance (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37978093) |
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Date: March 23rd, 2019 5:15 PM Author: vibrant station numbers include insurance and taxes, with 20% down and our credit scores
we ran all these numbers by a lender
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Date: March 23rd, 2019 4:17 PM Author: Pearl halford twinkling uncleanness Yeah sign on the dotted line. (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37977939) |
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Date: March 23rd, 2019 4:26 PM Author: apoplectic degenerate base yeah this is very doable (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37977972) |
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Date: March 23rd, 2019 4:32 PM Author: comical yapping orchestra pit Housing shouldn't be more than 1/3 of your income. You're limited to $50k. (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37977996) |
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Date: March 23rd, 2019 4:58 PM Author: vibrant station (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37978074) |
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Date: March 24th, 2019 3:04 PM Author: appetizing hilarious water buffalo church building no you're confusing that with how much to tip the previous owner (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37981608) |
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Date: March 23rd, 2019 5:06 PM Author: aphrodisiac alpha yeah that's fine. eife and I bought a house for 320 when we made a combined $130k and put down 10%. (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37978094) |
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Date: March 23rd, 2019 5:13 PM Author: Zippy macaca Still paying PMI? (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37978106) |
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Date: March 24th, 2019 7:55 AM Author: aphrodisiac alpha nah, refinanced a couple years ago. some sweat equity + passive appreciation put us well over 20%. (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37980149) |
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Date: March 23rd, 2019 5:19 PM Author: vibrant station We were debating putting less down but think PMI cons might outweigh benefits (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37978125) |
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Date: March 23rd, 2019 5:51 PM Author: odious ultramarine spot love of her life The rates for PMI have come down a lot in the past few years. But when I bought, I looked at 10% down with PMI vs 20% no PMI. I calculated that I'd still be paying 11%/ yr on that extra 10%. 11% guaranteed return seemed better than leaving that cash in the market. (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37978228) |
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Date: March 24th, 2019 2:13 PM Author: vibrant station makes sense. i just hate spending so much cash at once but it is prob CR (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37981361) |
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Date: March 23rd, 2019 5:27 PM Author: adventurous abode other than flyover country, where can you even get a house (not condo) for 350K? (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37978141) |
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Date: March 23rd, 2019 5:29 PM Author: vibrant station this is flyover
house is 2000 square feet by a ttt country club/golf course, ljl |
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Date: March 23rd, 2019 5:31 PM Author: adventurous abode that would cost $1M+ in a coastal city. consider yourself lucky. (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37978154) |
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Date: March 23rd, 2019 5:34 PM Author: vibrant station cr, prob easily 2 to 3mm on the coast tbh (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37978168) |
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Date: March 24th, 2019 2:11 PM Author: vibrant station (http://www.autoadmit.com/thread.php?thread_id=4227238&forum_id=2#37981345) |