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Reply to "How much mortgage can we afford?"
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[quote=Anonymous] With your debt situtation, you are basically asking if you can take on a million dollars in debt. I would not do that it will drown you in stress. Now, we took out a 700k mortgage on a HHI of about 300k, and its fine, we are able to max 401k each and put some toward the 529 each month. But we had no other debt and our rate is 3.125%. If I had 300k in debt I think the most we could do would be a 500k mortgage. I would keep renting for 2-3 more years and pay down that 6% debt aggressively, or buy a place with mortgage max of 500k. You need to run a bunch of mortgage/debt calculators and do some serious budgeting to see what you can actually afford. [/quote]
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