If your HHI is $250-300k, what is your PITI?

[Anonymous]

$5000 - 2 kids in ES, no aftercare

[Anonymous]

Bought an $800K home at 2.875% in 2020.
$3100/mo + $500 additional principal payment

[Anonymous]

Anonymous wrote:Bought an $800K home at 2.875% in 2020.
$3100/mo + $500 additional principal payment

Live in NW DC, bought with 20% down, and HHI $290.

[Anonymous]

$300k HHI

It was $2200 but we did a cash out refi when rates were low to do a kitchen/basement reno. It’s now $2700.

[Anonymous]

$172,500 HHI - I am single. PITI zero. I paid off my mortgage years ago.

[Anonymous]

Anonymous wrote:How much extra P have people been paying? I know some with rates in the 2s-4s are probably not paying additional amounts at all unless they are debt averse.

$2800 on a 30yr. I pay $500 more each month plus $10K at the end of the year with my bonus. I didn't want to commit to a 15yr but I also don't want a mortgage when I retire.

[Anonymous]

250k and PITI is $2200.

[Anonymous]

HHI $360k. Mortgage is $1800/mo, we don’t escrow. Live in DC so prop taxes are not a killer.

[Anonymous]

Anonymous wrote:HHI is about $260, our PITI is just under $2500 - we bought a while ago in what was then a lower cost of living city; it's gotten more $$ since then. (We were earning about $80k less when we bought, too.)

We're in year two of 20 year mortgage - we refinanced and took out $ to redo the kitchen a couple of years ago.

A $1600 cabin sounds wonderful. I don't know why that doesn't seem feasible for us - we don't even have kids! But somehow the $ is spoken for, after the bills and retirement and everything. Where is the cabin?

We live in Chicago, cabin is in Michigan on a cute little lake. We have 2 kids and our youngest is entering public this year so we feel a surge of freedom from the thousands of dollars per month in childcare we've been paying over the last 5 years.

[Anonymous]

Anonymous wrote:Where do you all live with your affordable housing that costs less than a 2BR in DC?

We sold our first home in 2018 for a $300k profit. So I put nearly all of that into current home, so our payment is low.

[Anonymous]

Anonymous wrote:

Anonymous wrote:HHI is about $260, our PITI is just under $2500 - we bought a while ago in what was then a lower cost of living city; it's gotten more $$ since then. (We were earning about $80k less when we bought, too.)

We're in year two of 20 year mortgage - we refinanced and took out $ to redo the kitchen a couple of years ago.

A $1600 cabin sounds wonderful. I don't know why that doesn't seem feasible for us - we don't even have kids! But somehow the $ is spoken for, after the bills and retirement and everything. Where is the cabin?

We live in Chicago, cabin is in Michigan on a cute little lake. We have 2 kids and our youngest is entering public this year so we feel a surge of freedom from the thousands of dollars per month in childcare we've been paying over the last 5 years.

Not to be a wet blanket but aside from a few cheaper years in elementary I didn’t feel like kids got all that much cheaper after daycare ended. And as the “lucky” recipient of 1/2 of two cabins on cute lakes (husband and I each inherited one in conjunction with a sibling) I can tell you that they’re way more expensive than you’d think even without any mortgage payment, because something is ALWAYS coming up that needs to be dealt with. (I’d totally sell except we’re too emotionally attached to these places that have been in the family for four or five generations). We escrow $1500/month for our half of the taxes/maintenance on these properties but generally have to throw in an extra $5K per year or so to cover everything. It’s doable but I daydream about renting on my vacations. Oh, our HHI is just over $320K and PITI on primary is $3400.

[Anonymous]

Anonymous wrote:

Anonymous wrote:HHI is $285,000.

PIIT is $2,500 on our primary home, plus $1,400 for our condo at the beach

OP here. This is helpful and why I asked. We are HHI $268k and our house is $2600 and we're considering a cabin that would be $1600.

We are about to be down to one income at 290k/yr. Our PITI on our primary is 1900 and we have a cabin that has a PITI of $700.

Mortgage on a 2nd home is the least of your worries. You will have utilities and will be maintaining a whole other home. It gets expensive.

[Anonymous]

$4k

[Anonymous]

$3080

[Anonymous]

Anonymous wrote:

Anonymous wrote:HHI is about $260, our PITI is just under $2500 - we bought a while ago in what was then a lower cost of living city; it's gotten more $$ since then. (We were earning about $80k less when we bought, too.)

We're in year two of 20 year mortgage - we refinanced and took out $ to redo the kitchen a couple of years ago.

A $1600 cabin sounds wonderful. I don't know why that doesn't seem feasible for us - we don't even have kids! But somehow the $ is spoken for, after the bills and retirement and everything. Where is the cabin?

We live in Chicago, cabin is in Michigan on a cute little lake. We have 2 kids and our youngest is entering public this year so we feel a surge of freedom from the thousands of dollars per month in childcare we've been paying over the last 5 years.

That's wonderful - I hope you enjoy the he** out of it.