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Reply to "Just bought an $800,000 house on a $186,000 salary and now I'm panicking...."
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[quote=Anonymous]We totally fell in love with the house, saw it as our forever home, and went for it. Now I am here in the light of day and panicking. Trying to talk myself down from the ledge: Total mortgage debt is $710,000 Total monthly payment, including principal, interest, taxes, and insurance, is $3,700. (30 year fixed mortgage with a great rate). No other major debts, and kids are done with daycare. Our gross monthly income, before taxes, is $15,500. So our mortgage debt payment is 24% of our gross monthly income. On paper, that seems pretty reasonable. What say you, DCUM? Did I screw up and buy too much house? [/quote]
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