At what HHI would you consider a 1.5mm mortgage

Anonymous
House is 2.7mm, but we expect to be able to contribute about 1.3mm from cash on hand and equity from current house.
Anonymous
Never.
Anonymous
Run the numbers on a calculator. Why is this hard?
Anonymous
$750k if it was stable
Anonymous
500k, but really depends on so many factors: how much you have in retirement, savings/emergency funds, your ages, expected salary growth, stability of job fields; kids in the future/tuition/college funds, etc. Can you keep mortgage to 25% about gross income?
Anonymous
We did this easily at 500K-800K HHI but rates were much lower. DINKs so no kids or other major expenses yet.
Anonymous
We did that when Dh earned $1m.

I believe the formula is 3x so you should earn bare minimum 500k but I would not feel comfortable with high interest rates.

When we had a 500k HHI, we had a 800k loan and that was when interest rates were lower.
Anonymous
$750k
Anonymous
HHI ~$1m and I now regret our $1.3m mortgage @5.75%. I wish we bought a cheaper house…
Anonymous
$1m.
Anonymous
We did it with 350k
Anonymous
Anonymous wrote:HHI ~$1m and I now regret our $1.3m mortgage @5.75%. I wish we bought a cheaper house…


Why? That should be comfortable at your income level.
Anonymous
Wow you all live large. We have $1m income and have about $300k mortgage left on a $1.3m townhouse. Of course we could afford a lot more, but I don’t want that kind of risk.
Anonymous
Anonymous wrote:Wow you all live large. We have $1m income and have about $300k mortgage left on a $1.3m townhouse. Of course we could afford a lot more, but I don’t want that kind of risk.


Meanwhile you sound like you either live super large or choose to not live at all, with $300k mortage on $1M HHI.
Anonymous
Anonymous wrote:Wow you all live large. We have $1m income and have about $300k mortgage left on a $1.3m townhouse. Of course we could afford a lot more, but I don’t want that kind of risk.


You live very large too.
post reply Forum Index » Money and Finances
Message Quick Reply
Go to: