In what price range should we be looking?

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[Post New]07/27/2013 18:14
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Anonymous
Anonymous wrote:On $180K I'd say get a $400k mortgage, no more.


That it silly low. More like 540k.
[Post New]07/28/2013 07:24
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Anonymous
Move into the row house to avoid capital gains!
[Post New]07/28/2013 08:40
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Anonymous
Anonymous wrote:
Anonymous wrote:On $180K I'd say get a $400k mortgage, no more.


That it silly low. More like 540k.


Hardly. $400k with property taxes will run you in the ballpark of $2500 a month. $180k, after taxes and 401k and such will net you in the ballpark of $9k. So I'm advocating spending in 25% to 30% range of your take home. That's about standard. We can debate $400k vs $540k (how oddly specific) but whatever your perspective $400k is not "silly low".
[Post New]07/28/2013 08:43
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Anonymous
Former mortgage banker here. No more than $600,000 if you are putting the full $200,000 down.
[Post New]07/28/2013 08:48
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Anonymous
Anonymous wrote:Former mortgage banker here. No more than $600,000 if you are putting the full $200,000 down.


Meaning $600,000 should be the maximum sales price. Mortgage should be no more than $400,000.
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