600k mortgage...
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Anonymous
| How much HHI is comfortable to carry that loan? |
Anonymous
| I don't know, but we're HHI of 190K and I wouldn't be comfortable with it.... |
Anonymous
| We're about to close on a loan for that amount. Our HHI is 210k. |
Anonymous
| 225k. |
Anonymous
| It really depends on your other expenses. Do you pay childcare expenses and have other loans? If not, I think a HHI of $200k is more than enough. |
Anonymous
| HHI is $220 and that would skirt the edge of our comfort zone. But we have 2 kids under 3 so we have a few years of daycare ahead. For The House, I would do it. |
Anonymous
| I could swing it at $250k if I had to, at $300k I could swing t easily, but I also save heavily - max 401ks, etc. |
Anonymous
| We could do it on our HHI of $200K, but we have no other debt and aren't paying for daycare anymore. (We also max out 2 401Ks and it would still work.) |
Anonymous
| Just to clarify here, are you (OP and PPs) saying that there is no money down, or assuming a down payment on that size mortgage? |
Anonymous
| We have a 15 year mortgage of $560K and it feels crippling at times. And we earn over $400K a year. Sorry if I sound like a spoil sport. I just cannot wait to pay off the debt. |
Anonymous
Well, 15 year will definitely feel a lot more crippling than a 30 year. |
Anonymous
| 170k. But we have 0 debt and no kids. |
Anonymous
With no kids it would be easy on $170k. We pay $4,500 a month for nanny plus school. We pay $1,600 a month for mortgage. |
Anonymous
OP here, thanks for everyone who responded. 600K reflects the loan itself, after a downpayment. We have no other debt except a very small student loans not worth paying off as interest on it is very low. Our HHI is ~300K. Childcare takes a chunk out of my income. Am wondering if those who no longer have childcare...do you still feel tight? The house is really what I would love to raise my kids until they go off to college. But I feel nervous reading some of the DCUM's posts and how people like PP who makes 400K and feel tight financially. Could you share with me your HHI and if your CURRENT mortgage is around ~600K. What are you expenses? Do you feel comfortable, with childcare costs and post when the kids are in school. Am not planning private school at all as we would be buying into a very good school district. Thanks! |
Anonymous
4500 for a nanny is ridiculous on your hhi. We are close to 400k and have a 3.3k a month nanny . |