Income $176k — how much would you spend on mortgage now?

[Anonymous]

Anonymous wrote:

Anonymous wrote:We're in a similar income level and spend $2100. I wouldn't want to spend much more than that honestly. It means we're in a townhouse but it works for our family.

That you bought in 1998?

No? We bought in 2017.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We're in a similar income level and spend $2100. I wouldn't want to spend much more than that honestly. It means we're in a townhouse but it works for our family.

That you bought in 1998?

No? We bought in 2017.

Where did you buy a townhouse with an all in of $2,100 in 2017? Flint? That's a hell of a commute.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We're in a similar income level and spend $2100. I wouldn't want to spend much more than that honestly. It means we're in a townhouse but it works for our family.

That you bought in 1998?

No? We bought in 2017.

Where did you buy a townhouse with an all in of $2,100 in 2017? Flint? That's a hell of a commute.

Silver Spring.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We're in a similar income level and spend $2100. I wouldn't want to spend much more than that honestly. It means we're in a townhouse but it works for our family.

That you bought in 1998?

No? We bought in 2017.

Where did you buy a townhouse with an all in of $2,100 in 2017? Flint? That's a hell of a commute.

uhm I bought a townhouse in Ashburn in 2020 and my PITI is 1900/mo. 3BR/3BA with a den. House backs to thick woods, new kitchen and baths. I did not have to do a single update.

[Anonymous]

I’m doing a 3400 PITI on a 130k income. 2 kids. Yes I’m sure most think I’m crazy, but:

Zero debts besides mortgage
Zero childcare costs
Job and retirement super secure
No commuting costs
Car is new and paid for
Eat at home nearly 100 percent
Basically don’t care and don’t need to care about things like beauty and fashion, clothes, gadgets, decorating, etc etc.
No expensive trips
Our few splurges are our dogs, kids’ sports, and sleepaway camp.

[Anonymous]

Stretch up to 550k (ie 3x your income) if you have 20% down payment saved in cash and a 10% cash buffer- you will need it for things like closing costs- rule of thumb. Our mortgage and taxes are about 10% of our gross income, was slightly more when we bought several years back but income has increased.

Generally speaking 3x income is the rule, especially with rising interest rates wouldn’t stretch much further than that. Also depends on factors like whether you have other debt, are comfortable maxing out retirement, etc.

[Anonymous]

3k is reasonable

you wont get much for less than that anyways

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We're in a similar income level and spend $2100. I wouldn't want to spend much more than that honestly. It means we're in a townhouse but it works for our family.

That you bought in 1998?

No? We bought in 2017.

Where did you buy a townhouse with an all in of $2,100 in 2017? Flint? That's a hell of a commute.

uhm I bought a townhouse in Ashburn in 2020 and my PITI is 1900/mo. 3BR/3BA with a den. House backs to thick woods, new kitchen and baths. I did not have to do a single update.

Ashburn isn't much further than Flint. Honestly, it may be faster to fly into DCA from Flint then drive from Loudon lol

[Anonymous]

If you believe your income will go up and you Have no other debts, I’d be fine with 3700 or maybe even 4000.

This assumes simple vacations, used cars, public school for the kids, etc. it is about what you want. There are a lot of people on this forum that believe you should go more than 2500 but then turn around and have 1200 in car payments.

[Anonymous]

When we had a dual income of about that amount we had a PITI of $2700 and $1600/mo in daycare expenses. We each contributed 10% to our 401Ks (i.e. did not max)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We're in a similar income level and spend $2100. I wouldn't want to spend much more than that honestly. It means we're in a townhouse but it works for our family.

That you bought in 1998?

No? We bought in 2017.

Where did you buy a townhouse with an all in of $2,100 in 2017? Flint? That's a hell of a commute.

Different poster but we bought a single family home in Takoma Park in 2019 and have a mortgage payment of $2200. I’m sure I’ve just blown your mind!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We're in a similar income level and spend $2100. I wouldn't want to spend much more than that honestly. It means we're in a townhouse but it works for our family.

That you bought in 1998?

No? We bought in 2017.

Where did you buy a townhouse with an all in of $2,100 in 2017? Flint? That's a hell of a commute.

uhm I bought a townhouse in Ashburn in 2020 and my PITI is 1900/mo. 3BR/3BA with a den. House backs to thick woods, new kitchen and baths. I did not have to do a single update.

Ok. But no one wants to live in Ashburn.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We're in a similar income level and spend $2100. I wouldn't want to spend much more than that honestly. It means we're in a townhouse but it works for our family.

That you bought in 1998?

No? We bought in 2017.

Where did you buy a townhouse with an all in of $2,100 in 2017? Flint? That's a hell of a commute.

uhm I bought a townhouse in Ashburn in 2020 and my PITI is 1900/mo. 3BR/3BA with a den. House backs to thick woods, new kitchen and baths. I did not have to do a single update.

Ok. But no one wants to live in Ashburn.

Really dumb comment. Say that to the people who work in the tech corridor. Probably worth more than your shitty rambler.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We're in a similar income level and spend $2100. I wouldn't want to spend much more than that honestly. It means we're in a townhouse but it works for our family.

That you bought in 1998?

No? We bought in 2017.

Where did you buy a townhouse with an all in of $2,100 in 2017? Flint? That's a hell of a commute.

uhm I bought a townhouse in Ashburn in 2020 and my PITI is 1900/mo. 3BR/3BA with a den. House backs to thick woods, new kitchen and baths. I did not have to do a single update.

Ok. But no one wants to live in Ashburn.

Really dumb comment. Say that to the people who work in the tech corridor. Probably worth more than your shitty rambler.

Not if their PITI is $1900 lol

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We're in a similar income level and spend $2100. I wouldn't want to spend much more than that honestly. It means we're in a townhouse but it works for our family.

That you bought in 1998?

No? We bought in 2017.

Where did you buy a townhouse with an all in of $2,100 in 2017? Flint? That's a hell of a commute.

uhm I bought a townhouse in Ashburn in 2020 and my PITI is 1900/mo. 3BR/3BA with a den. House backs to thick woods, new kitchen and baths. I did not have to do a single update.

Ok. But no one wants to live in Ashburn.

Sure buddy!
Really dumb comment. Say that to the people who work in the tech corridor. Probably worth more than your shitty rambler.