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Reply to "Is it crazy to borrow 800k mortgage on 300k HHI?"
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[quote=Anonymous][quote=Anonymous]$800k mortgage is probably close to $5k PITI per month. If you're making $300k per year, your take home per month should be over $15k. That gives you $10k per month after mortgage to live and invest. Easily doable with kids in public school.[/quote] PP ... also, if you get a fixed rate mortgage, remember that those payments will not change much over the years while your HHI will increase. Even 3% per year means abt 10% every 3 years - $2-$3k extra per month, so your cushion should continue to grow over time and you'll be living in a house you enjoy. Meanwhile, it's quite possible that the $1.25mm house will continue to appreciate at or above your income appreciation, which means that it never really gets more affordable for you.[/quote]
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