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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here. Hope this will clarify. As a self-employed person, my cash flow works differently than an employee. I get quarterly distributions, which are used to in its entirety to pay federal taxes, and I also lay a lot of state taxes due to individual and partnership circumstances. It’s apples to oranges to some extent, but the $18-20K is my gross monthly distribution before retirement contributions, 529, healthcare premiums), etc. Keep in mind there’s no match. That is why I used that number. Hopefully that helps.

In any event, a $10K mortgage on $20K still seems untenable?[/quote]

So you don’t make $650k..

There is no way you are paying 60% + in effective taxes, even in a multi state partnership. [/quote]

Sigh. I have no incentive to lie. I’m just a tired single mom not understanding real estate in this area. I’d welcome feedback on the question though, which said in another way are people paying $10K+/month for mortgages to live in Bethesda/CC/Kensington? Or is it that I actually don’t make enough to live in those areas comparatively? [/quote]

most people aren't paying 10k.

If you are truly making $650k, then a PITI in the 7-9k isn't horrendous. If you are actually only netting 18-20k (effective taxes of 60% +...) before retirement savings, health care, etc, then you clearly can't afford the 10k mortgage.

There are plenty of very nice homes in Beth/CC for 1.5M - 1.7M that, depending on your down payment, would get you a reasonable mortgage.[/quote]

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