House is 2.7mm, but we expect to be able to contribute about 1.3mm from cash on hand and equity from current house. |
Never. |
Run the numbers on a calculator. Why is this hard? |
$750k if it was stable |
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? |
We did this easily at 500K-800K HHI but rates were much lower. DINKs so no kids or other major expenses yet. |
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. |
$750k |
HHI ~$1m and I now regret our $1.3m mortgage @5.75%. I wish we bought a cheaper house… |
$1m. |
We did it with 350k |
Why? That should be comfortable at your income level. |
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. |
You live very large too. |