600k-700k HHI, what PITI do you have?

[Anonymous]

This is OP. Not sure where I will find a $3k PITI mortgage nowadays, unfortunately, in a close-in to DC area! We are looking at 8-10k PITI but that makes me a bit nervous.

We have very stable jobs and don’t have any other debts but we do have childcare costs for two under 2. Planning on sending to public for elementary. Would this make others nervous?

[Anonymous]

$4000, but we bought 8 years ago and refinanced 2 years ago.

[Anonymous]

Anonymous wrote:This is OP. Not sure where I will find a $3k PITI mortgage nowadays, unfortunately, in a close-in to DC area! We are looking at 8-10k PITI but that makes me a bit nervous.

We have very stable jobs and don’t have any other debts but we do have childcare costs for two under 2. Planning on sending to public for elementary. Would this make others nervous?

If you are doing public schools then 8k -10k should be just fine. If you are doing to privates, then say goodbye to another 7-8k/mo,

If you make 700k, at a minimum you should be pulling in net, 30 - 35k/mo after all deductions, 401k, etc

If you spend 10k on your house you still have 20k+ to save and spend. With no private school, you should have no issues. You could save 10k a month and still have 10 - 15k to blow on life stuff.

[Anonymous]

Anonymous wrote:This is OP. Not sure where I will find a $3k PITI mortgage nowadays, unfortunately, in a close-in to DC area! We are looking at 8-10k PITI but that makes me a bit nervous.

We have very stable jobs and don’t have any other debts but we do have childcare costs for two under 2. Planning on sending to public for elementary. Would this make others nervous?

If you are looking to buy in NOVA, I would recommend you buy in Langley pyramid and call it a day. As good as private, mortgage will be your only worry.

[Anonymous]

2500 PITI with 2.125 % loan but we bought 13 years ago at 900k and paid for renovations all in cash.

[Anonymous]

These numbers are silly and reflect people who bought years ago or live way far out or in tiny houses. We pay around $9K.

[Anonymous]

Anonymous wrote:These numbers are silly and reflect people who bought years ago or live way far out or in tiny houses. We pay around $9K.

+1. I’m sick of the out of touch trolls on here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:These numbers are silly and reflect people who bought years ago or live way far out or in tiny houses. We pay around $9K.

+1. I’m sick of the out of touch trolls on here.

+2

PITI on a $1.5 million house with 20% down at a 6.5% mortgage rate is like $9,500/month.

A $1.5 million house is not even a mansion anymore. If you people making $700K are not buying these, THEN WHO THE F IS BUYING THESE?

[Anonymous]

8800, taxes keep going up, it was 8000 last year.

[Anonymous]

HHI is 650k, PITI is $1900 for a $400k house we purchased in the exurb.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:These numbers are silly and reflect people who bought years ago or live way far out or in tiny houses. We pay around $9K.

+1. I’m sick of the out of touch trolls on here.

+2

PITI on a $1.5 million house with 20% down at a 6.5% mortgage rate is like $9,500/month.

A $1.5 million house is not even a mansion anymore. If you people making $700K are not buying these, THEN WHO THE F IS BUYING THESE?

you'll get a good chunk of people here that love to brag about living in a 600k house in Aldie.

Just look at any home inside the beltway, most are well over $1M and most people buying these do not make anywhere near 700k.

If you are making 700k consistently, of course less $10k and less if doable with even significant annual savings. If you live a lavish life and drive super high end cars, st albans for multiple kids, etc..then of course, things will be tight.

PP mentioned, even after maxing 401k(k)s, you should net at least 32- 35k a month. More than enough to have zero issues paying a 10k mortgage and still save 100K + a year outside of 401ks.

[Anonymous]

Anonymous wrote:This is OP. Not sure where I will find a $3k PITI mortgage nowadays, unfortunately, in a close-in to DC area! We are looking at 8-10k PITI but that makes me a bit nervous.

We have very stable jobs and don’t have any other debts but we do have childcare costs for two under 2. Planning on sending to public for elementary. Would this make others nervous?

Why not wait and save until you have enough for a down payment that would give you a more comfortable PITI?

[Anonymous]

2300.00 on a 15 year mortgage

[Anonymous]

Anonymous wrote:This is OP. Not sure where I will find a $3k PITI mortgage nowadays, unfortunately, in a close-in to DC area! We are looking at 8-10k PITI but that makes me a bit nervous.

We have very stable jobs and don’t have any other debts but we do have childcare costs for two under 2. Planning on sending to public for elementary. Would this make others nervous?

We don’t live close in. We live in Anne Arundel. Yes, on $700k/yr and commuting 3 days a week.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is OP. Not sure where I will find a $3k PITI mortgage nowadays, unfortunately, in a close-in to DC area! We are looking at 8-10k PITI but that makes me a bit nervous.

We have very stable jobs and don’t have any other debts but we do have childcare costs for two under 2. Planning on sending to public for elementary. Would this make others nervous?

If you are looking to buy in NOVA, I would recommend you buy in Langley pyramid and call it a day. As good as private, mortgage will be your only worry.

We bought in langley about 6 years ago at that income and a $6500 mortgage. Today in our neighborhood you are probably at $9k-$10k, but hopefully your income goes up over the years. Even at the higher mortgage it's totally doable, but would impact your savings if you have a nanny, an expensive vacation habit, etc.