How much debt you have? Mortgage and student loans included.

[Anonymous]

427k mortgage; 16,500 cc debt. 46 y.o. divorced woman.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:800k mortgage on a 1.4 house. Nothing else.

Nothing else, says the person almost a million dollars in debt!

they didn't say anything about their total net worth, even setting aside the equity in the house which more than covers their debt. You do understand how 800k in unsecured debt (credit cards, student loans) is very different than a loan on an asset where they still have more than 40% equity?

I've got a 1.2 mortgage on a 2.2M house at a 2.5% rate, no other debt. Plenty of assets elsewhere. and to answer someone else's question, PITI is 7100.

This. We have $700k in mortgage debt, on a house worth about $1.3m (or something like that, it may be more, prices are going nuts these days), at 2.625% interest, and no other debt. I have no intention of paying it off before retirement, or even after I retire, at that rate. I suppose we could have prioritized paying it off, but that would have been supremely ill-advised, both in the abstract and as life turned out - we need the greater liquidity to pay for some costly medical treatments and therapies.

The anti-debt evangelicals are just so myopic.

We paid off our house and it’s freeing so we can pay for other thing like medical. The difference is living under our means. Our house is ver small and under $400k, yours is worth three times what ours is.

Not in the DC area, huh?

Yes in the dc area. 10 minutes from the line. There are plenty of houses in that range, not just places you are willing to live.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Around $858k mortgage in house now worth around $1.6M.
We collectively paid off or had forgiven all but $10k of about $200k of student loans.

Gotta love when someone living in $1.6M home has their debt forgiven by hardworking taxpayers.

And people wonder why blue collar Americans vote Republican.

Exactly. They should have income and assets limits.

[Anonymous]

400K mortgage on a 800K house

[Anonymous]

386K 2.0% mortgage on primary residence valued 1.1M
270K 2.5% mortgage on beach house valued 1.2M.
No other debt and I will never pay these two mortgages off early.

[Anonymous]

$80k left on the mortgage, 2.875% fixed, home worth a conservative $1.2 million

That's it. Cars always bought in cash, no cc debt (pay in full every month), no student loans. 2 kids in college, paying for it with 529s and cash flow.

Retiring in 2.5-3 years, when mortgage is paid in full and only need 529s to finish up undergrad for the kids.

HHI $275

[Anonymous]

Anonymous wrote:How do people have such low mortgage balances in the DC area? Are the people responding people who have owned their homes 20+ years?

Probably. Also, some people have been on the property ladder for a while. I bought a condo when I was in my 20s instead of renting (only had to put 3% down and mortgage/condo fee/taxes was the same as rent). It went up enough that after 4 years I had enough equity to put 10% down on a townhouse (my salary went up enough to afford the higher payment). That went up enough that after 4 more years I had enough equity to put 30% down on a SFH. Because we put so much down we had a lower rate to start with and were able to immediately refinance when rates dropped because we had so much equity, but also kept making the same payments so we could pay off the principle faster.

[Anonymous]

450k on 1.6mm house. 48 y/o.

[Anonymous]

Anonymous wrote:450k on 1.6mm house. 48 y/o.

Adding that our family gave us 20% for our first home in 2008 and we ended up selling it for a nice profit. Starting with no student loans for undergrad and grad in lucrative careers and down-payment $$$ gave us a huge advantage. Also having responsible parents who saved for retirement.

[Anonymous]

Zero. I'm a teacher and a single mom but I paid off my loans years ago. I live at home with my parents so I can use what I earn to send my kid to college. He will graduate without loans so I'll have about 13-15 yrs after that to max out my retirement savings.

[Anonymous]

$70k mortgage on DC home (valued around $750k)
$60k mortgage on vaca home (valued around $680k)
No student loans, no car loans, no credit card debt. But about to sent the first of two kids to college.
Aiming to pay off both house by 2030. Will hopefully have zero debt at that point.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Around $858k mortgage in house now worth around $1.6M.
We collectively paid off or had forgiven all but $10k of about $200k of student loans.

Gotta love when someone living in $1.6M home has their debt forgiven by hardworking taxpayers.

And people wonder why blue collar Americans vote Republican.

If the reason why the debt is forgiven is because they worked for the government for 10 years, then taxpayers should be happy because they probably got someone decent to take a lower paying government job that they wouldn't have taken but for the loan forgiveness program. There are many government jobs where the private sector equivalent pays much much more over a 10 year period than the benefit from student loan forgiveness.

[Anonymous]

Anonymous wrote:People who have $600K+ mortgages, what is your PITI and what is your salary?

$4400, $420k HHI.

[Anonymous]

We are 49/51
Owe about $400k on two properties worth 2.2 million combined.

[Anonymous]

$1.5M mortgage at 2.625%.