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Reply to "At what point would a $6000 monthly mortgage make sense?"
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[quote=Anonymous][quote=Anonymous]We are looking to buy for the first time. We have no property to sell to roll into our down payment. Looking in the $1.1-1.3 range so we can buy one time and be done with moving (therefore skipping the "starter home"). With 20% or a bit more down, that still means a $6k monthly mortgage. Is that crazy?? Our rent is $4400/month. Thoughts?[/quote] obviously, it depends on your income. your rent suggests that you are probably not making enough for that kind of mortgage. our mortgage is about 2000 and our rent was 2500. we taxes etc, we are still spending about 500 more on housing than we used to.[/quote]
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