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Reply to "$1M home on $157k base compensation?-DC"
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[quote=Anonymous]Not a good idea given that income level. The bonuses are not guaranteed so I would not rely too much on them in your calculations. With 157k, after tax I assume monthly take home will be around 8k (I am assuming single and that 10% of your income goes towards 401k). Even at that interest rate, your monthly PITI will be around 6600. That is simply too high of a cost given income (you will only have around 1.5k left every month, and this is before utilities and etc). No way is 1.5k livable amount of money in this area. Way too risky of a decision. Any emergency and you will be j a tough spot. [/quote]
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