How much is your mortgage PITI if your HHI is around $120?

[Anonymous]

How much is your PITI and do you feel strained? FWIW my childcare expenses are low ($700/month) and we do not plan on having more kids; we have no other debts. Thanks for the feedback!

[Anonymous]

We were able to swing $2300 at that income.

[Anonymous]

1700. Daycare about that too.

[Anonymous]

$2300. It’s fine but we max 401ks so it’s a very large chunk of our take home.

[Anonymous]

Purchased in August 2016

At the time we made 125k combined, purchased current home for 550k with 5% down in NE DC

Payments were about $3,200/month for the first 9 months then after they adjusted the property taxes calculations it went down to $3,050/month.

Hope to have 80% equity by this coming August to get ride of PMI which is ~$400/month of our total
Payments reducing our mortgage to $2,650/month.

Yes $3,200 was a lot and we would not recommend it to everyone but we are frugal, always lived in HCOLA cities so used to 50% of our take home going to the rent/mortgage (so no surprises) and adjusted just fine.

[Anonymous]

$2200 (not including HOA fee)

[Anonymous]

Anonymous wrote:Purchased in August 2016

At the time we made 125k combined, purchased current home for 550k with 5% down in NE DC

Payments were about $3,200/month for the first 9 months then after they adjusted the property taxes calculations it went down to $3,050/month.

Hope to have 80% equity by this coming August to get ride of PMI which is ~$400/month of our total
Payments reducing our mortgage to $2,650/month.

Yes $3,200 was a lot and we would not recommend it to everyone but we are frugal, always lived in HCOLA cities so used to 50% of our take home going to the rent/mortgage (so no surprises) and adjusted just fine.

Depending on your mortgage you may not be able to drop pmi just by reaching 80%

[Anonymous]

OP here, I'm asking because I'm thinking of quitting my job and taking a substantial pay cut. Our current piti is 4200 which is great with current income, but trying to figure out what to do if I take a lower paying job. I have a cash flow neutral investment property that would net me 300k, so I'm thinking it might be an option to refinance my current mortgage with a lump sum payment after I sell that property, rather than move to a totally new place.

[Anonymous]

Including child support, my HHI is about that much.

My PITI is just under $2,500. There isn't a ton of money left over at the end of the month after all the household expenses, kid expenses, 401K/529 savings, etc.

[Anonymous]

Our HHI is 180K, but when we bought our home, we bought at a price we could afford if I took a 50% pay cut, which would bring our HHI down to 120k. Our PITI is 2300.

[Anonymous]

Anonymous wrote:Our HHI is 180K, but when we bought our home, we bought at a price we could afford if I took a 50% pay cut, which would bring our HHI down to 120k. Our PITI is 2300.

Oh, and I obviously can't weigh in on whether or not we feel strained, since we're definitely not. I would feel strained because I grew up poor and have money/financial security issues. But that's my own baggae, and not necessarily the truth. We'd probably have a slower go building our savings, or replenishing them if depleted, but I don't doubt that we would be fine with that mortgage payment on that HHI.