What % of your take home income goes to your mortgage?

[Anonymous]

just curious what % of your take home pay, not gross, goes to your mortgage on your primary home.

Thanks

[Anonymous]

44% of our base, not accounting for any bonuses. I budget off the base. Probably closer to 36% when you take those into account.

It would be far less if 1. We saved less for retirement and 2. I hadn't gotten laid off from my biglaw job and had to take something lower paying.

Oh well. We do have 6 figures in emergency savings, so I don't feel stretched with this mortgage, although maybe I should.

[Anonymous]

29% of my net pay after 15% 401K and $5000/year for daycare FSA are taken out.

[Anonymous]

Anonymous wrote:44% of our base, not accounting for any bonuses. I budget off the base. Probably closer to 36% when you take those into account.

It would be far less if 1. We saved less for retirement and 2. I hadn't gotten laid off from my biglaw job and had to take something lower paying.

Oh well. We do have 6 figures in emergency savings, so I don't feel stretched with this mortgage, although maybe I should.

I am this poster. I wanted to add, we have no other debt. Zilch. That fact, coupled with our big stash of savings, is what makes me ok with this situation. I do not think 44% is ok for most people, though, I don't want anyone to think that. Had we had other debt or less savings, the house would have gone on the market once I lost my job.

[Anonymous]

Anonymous wrote:

Anonymous wrote:44% of our base, not accounting for any bonuses. I budget off the base. Probably closer to 36% when you take those into account.

It would be far less if 1. We saved less for retirement and 2. I hadn't gotten laid off from my biglaw job and had to take something lower paying.

Oh well. We do have 6 figures in emergency savings, so I don't feel stretched with this mortgage, although maybe I should.

I am this poster. I wanted to add, we have no other debt. Zilch. That fact, coupled with our big stash of savings, is what makes me ok with this situation. I do not think 44% is ok for most people, though, I don't want anyone to think that. Had we had other debt or less savings, the house would have gone on the market once I lost my job.

We have zero debt as well but are very conservative with our money. I won't be surprised if more people have a higher percentage but also have large debt.

[Anonymous]

27%

[Anonymous]

22.5% (this is from the take-home which has 5000 taken out for childcare and 15% for retirement).

I just figured this out because of this thread. Maybe we could afford a more expensive house after all but I guess there are a lot of variables.

[Anonymous]

40% after taking out max 401K contribution, and 5K per year fsa contribution. No car payments, student loans paid off.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:44% of our base, not accounting for any bonuses. I budget off the base. Probably closer to 36% when you take those into account.

It would be far less if 1. We saved less for retirement and 2. I hadn't gotten laid off from my biglaw job and had to take something lower paying.

Oh well. We do have 6 figures in emergency savings, so I don't feel stretched with this mortgage, although maybe I should.

I am this poster. I wanted to add, we have no other debt. Zilch. That fact, coupled with our big stash of savings, is what makes me ok with this situation. I do not think 44% is ok for most people, though, I don't want anyone to think that. Had we had other debt or less savings, the house would have gone on the market once I lost my job.

We have zero debt as well but are very conservative with our money. I won't be surprised if more people have a higher percentage but also have large debt.

This makes me feel better. We are also very conservative with money, so you can imagine the blow it was to lose my job. But I was, and am, very lucky and grateful to have gotten another one, even if the pay isn't anywhere near where I was making. (Much less stress and a no commute!) Our plan is basically to stick it out here until the economy is truly back on track, then sell the house and hightail it to somewhere with a low cost of living. DH's job is portable and I have dreams of working as a solo attorney.

[Anonymous]

19%

[Anonymous]

We're at about 33% of our take home, but that just includes mortgage payments and not real estate taxes. It works because we have about 75K in emergency savings and almost 20k in other non-retirement savings. Much more would start to pinch, at least in terms of meeting our retirement and college savings goals while saving to remodel the house and buy our next car with cash.

[Anonymous]

Would have to look at bank statements to confirm (I know my exact take home but not husband's), but I think we're around 30%-35% including real estate taxes. We are another family that has seen our income LOWERED due to job loss/taking something lower paying. Not a ton of fun.

[Anonymous]

51%.

[Anonymous]

Approximately 26% of take home salary (max out the 401k/TSP and child care FSA, and 2k for health FSA). We have about 2/3 equity in our home, no other debts. That does not include property taxes, which are not escrowed.

If we absolutely had to, we could make it on one salary, but it would probably mean no savings.

[Anonymous]

22%, if you use the take home after 401(k), FSA, dependent care, parking, taxes, insurance, blah blah blah taken out. I based it on what actually hits my bank account.