If your HHI is 400k what is your monthly mortgage?

[Anonymous]

PITI is $5.5K... We made around $400K when we bought 2 years ago. We make about $600K now.

[Anonymous]

PITI is 5.5k, bought in 2019, income at the time was 400k, now we make 750k. Things were comfortable on 400k as well.

[Anonymous]

2,100 mortgage. 400 K. Live in our 3200sqft sfh starter forever home. Increase is recent. Bought it at the bottom of market. It changed the trajectory of our lives.

[Anonymous]

$2.3k. only bought a few years ago. Very content to stay where we are. It now feels like home.

[Anonymous]

450k per year - mortgage (with taxes) is 5k.

[Anonymous]

Anonymous wrote:Too many low mortgages here. Good for you.

I think no one mentions that they put $500,000 + down and refinanced during the pandemic.

[Anonymous]

Anonymous wrote:$2100

Tiny house by DCUM standards but it suits us, as does the monthly payment

$2k and same. We bought 10 years ago at $200k HHI and wanted to be able to afford the house if one of us lost our jobs. We were also behind on retirement savings, so as our salaries increased, most of the extra income went to catching up.

[Anonymous]

Anonymous wrote:Where do you all live with such cheap mortgages? Or did you buy a decade ago???

NW, EOTP. Bought in 2015, refinanced in 2020. $2900 mortgage (was $3650 before refi), no plans to move.

[Anonymous]

$3,075 PITI. We refinanced to a 30-year at 2.875% 2 years ago. It was a great decision.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Too many low mortgages here. Good for you.

I think no one mentions that they put $500,000 + down and refinanced during the pandemic.

You don't need to live in a $1m house. Where do you think the vast majority of people, who cannot afford a $4000/month mortgage, live? Do you drive outside of NW DC or Chevy Chase?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Too many low mortgages here. Good for you.

I think no one mentions that they put $500,000 + down and refinanced during the pandemic.

OP didn't ask about these things. And I refinanced in 2016. Rather than waiting to afford some fancy house, people should just buy what they can afford NOW and get on the property ladder.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Too many low mortgages here. Good for you.

I think no one mentions that they put $500,000 + down and refinanced during the pandemic.

You don't need to live in a $1m house. Where do you think the vast majority of people, who cannot afford a $4000/month mortgage, live? Do you drive outside of NW DC or Chevy Chase?

90s SFH cost $1M in Howard County now. If you want functioning public schools and a SFH and drive less than hour to DC, $1M is price of admission.

Sure you can maybe find a 1300 brick rambler from the 30s in original condition in Silver Spring for $500k — but long term maintenance will kill you and you have slower appreciation because of lower performing schools — you are paying $500k for a lot essentially at that point in the houses lifetime.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Too many low mortgages here. Good for you.

I think no one mentions that they put $500,000 + down and refinanced during the pandemic.

OP didn't ask about these things. And I refinanced in 2016. Rather than waiting to afford some fancy house, people should just buy what they can afford NOW and get on the property ladder.

That doesn’t work out necessarily. We could only afford a condo in 2014, and when we sold it had depreciated in value by 2021. And there are places in PG like Capital Heights which have been low for decades.

We would have been better off putting our down payment into stock market and waiting a decade to buy a SFH.

[Anonymous]

420k hhi. Piti is 2318/mo.

[Anonymous]

$4800